ida provides some good general information. I am currently working at a large Chinese architectural firm in Beijing and make 12,000RMB/month. This is a good salary for a Westerner and allows me to live comfortably. Asking for $42,000 sounds way too high.
Some things to consider: Rent is reasonably inexpensive compared to other large international cities (can one really rent a decent place in NYC for $600/month?). Utilities, cell phone, Internet are dirt cheap and you can eat a full-on meal at a restaurant for $5. If you live in Beijing, public transportation will get you where you want to go for ~$.30/ride. Cheap taxis are all over the place if you prefer.
That being said, if you are seriously considering making the journey to China, you must prepare yourself for the way Chinese offices are run. There is often a sharp difference in what Westerners are used to. My personal experience has shown that Chinese managers do not provide much creative direction and oftentimes keep designers out of the information loop, which leaves us simply guessing on what the client wants. If you can stomach the unknown and uncertain nature of living abroad and working in a strange environment then you will be exposed to a wide range of incredible projects you would most likely not see back home. In the past month I have been asked to design: two landmark bridges, two river parks and a Tienanmen Square-sized plaza. Not just a small part of these sites — the ENTIRETY of the sites.
Best of luck in your China job search.