is there a certain amount you must have in ther bank for your application to be approved?

The latest 3 months bank-statements with adequate money is required to show that you can burden the expense of travelling in China.

If you travel in China for 10 days, you have to deposit at least 3000 USD in yoru bank statement.

Hotel reservation in China; Round-trip ticket booking are also required for tourist visa application.

What if my family that am visiting in china will pay for all my expenses?

beacause am only a student.

You can provide the bank statement of the sponsor who support your trip to China, such as your father or mother.