The cost of living in Guangzhou is higher than most of the cities in China, but of curse lower than Shanghai, Beijing and Shenzhen. It also depends on how would you like to live. Generally, a student in Guangzhou need at least 800-1000 per month. Without considering food and accomodation, 1500 is enough for you while staying there. SImple fast food: 10-20, city bus ticket:2 yuan. Accomodation should cost the most.