Also in China currently and I've done a bit of research into this for myself. Typically, translators are paid by word and the going rates are low. For general texts it could be around .06-.08 USD/word whereas more specialized texts can go for around double that. This is not including time constraints either as the sooner they want it, the higher the rate will be. Alternatively, if you were contracted with an author (as one of my instructors has been and currently is), then you would have a flat rate for the entire body of work. That would be individually negotiated and I wouldn't be able to provide any data on that.
Similarly, interpreting services are negotiated by the hour and would range from US 15-25 based on the amount of time needed, the industry language required and your personal experience in such work. The biggest issue that you would face in translating as a foreigner is the potential clients' concern about language barriers. "Sure, you're a native speaker of *insert mother tongue here*, but can I communicate with you clearly and effectively." Having been here for almost a decade and a degree in the language still hasn't gotten people over their surprise at the fact that I can speak better than most of the people in the province (hint: it's one of the Cantonese speaking provinces).
Starting would be easy enough given how many bad translations and translational errors you can find on a daily basis. So I would simply suggest speaking with the owner and informing them of the mistakes while also offering to correct it for some small bit of compensation. That could mean you get a free meal at the end of it which is worth as much as or more than the cash itself sometimes. For bigger projects where you could build a bit of a reputation, find someone working for the local government offices. If there's a bit of a foreign population, chances are that friend would think of you first and get the coveted "iron rice bowl" (铁饭碗) that everyone strives for.
EDIT: This isn't translating stories at first, but you'd be able to build a reputation for yourself and get to the same point with more accessible work. Take a look at Dilah the White Fox written by Chen Jiatong as an example of this future outcome.
