The market rate for (caucasian)private school English teachers in urban China is between 100-150 yuan/hour ($15.80-$23.75). The cost of living is higher than you would imagine, but you can live quite inexpensively once you get used to the city.

That being said, I do not personally find such teaching jobs enjoyable. And the author, it seems, is not well acquainted with the drawbacks (or advantages) of living in China. (Read Peter Hessler for an accurate account.)