XYZ is used in much formal greeting situations such as when you are just being introduced to new people. It can also be used to greet someone one knows but is not very familiar with. It is never used when friends or classmates greet each other in the same way as “hello” in English. In fact, when friends greet each other, they normally say — how have you been (lately)? or how is it going? In answering the question “How are you?” Or “are you all right”, very rarely, people answer — I'm well. In answering such a question, very rarely Would one say, “thank you.” as it sounds rather formal. Thank you for asking. In terms of answering “What about you?” is not usually used either. It is more an expression translated directly from the English sentence, “I'm fine, too. Thank you”, than an idiomatic Chinese expression. He hopes that he can lead an ordinary life.