Hi,
 
USD 850 is an average salary. You might be able to earn similar salary in India also. But if you compare living cost in India and China, it would be cheaper to live in China than in India. However, Beijing is much more expensive than any other cities in China.
 
How much money you spend depends on your lifestyle, however. A rate between 5 and 10 Euro/day should be a realistic amount to calculate with.

A random list of prices in Chinese Renminbi (1 Euro = 10 RMB):
-A bus ticket - RMB 1
-A can of soda - RMB 2
-Taxi - RMB 10 (for the first 3 km) (2 RMB per additional km)
-Dinner at a Chinese restaurant for 4 people - RMB 15 each
-Fast food - RMB 20
-New bicycle - RMB 120 - 400
 
 
Approximately exchange rates:
- 1 USD = 8 RMB
- 1 EUR = 10 RMB

 
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