The living standard in Cuba is not high, but the consumption level (price level) is higher than that in Chinese mainland. Because Cuba is an agricultural country, many industrial products and even small commodities such as brooms and sunglasses are imported, so the price will naturally be more expensive than that in the mainland. According to my experience in living in Cuba, the price level in Cuba is similar to that in Hong Kong, but the types of materials are much less than that in Hong Kong. The consumption level of cities in the Pearl River Delta may still be close to Cuba, while other cities are lower than Cuba. There are many places where Cuba can spend money, and the consumption level is higher than that of other cities, but the price level is the same, because Cuba is a planned economy as a whole, and prices are unified throughout the country. Cigars are one of the main sources of foreign exchange, so cigars are very expensive (cheaper than domestic ones, of course).
Cuban currency is a dual-track system, there are two kinds, convertible peso and Cuban peso. According to today's exchange rate, 1 cuban convertible peso (CUC) is about 7.37 yuan; 1 cuban convertible peso equals 24 Cuban pesos.