Translation: Street-Smarts/Street Smart?
Originally it means empirical wisdom gleaned from the streets.

市井聪明, 街市里积累的智慧

市井 [street]∶街市,
    [urban vulgar class]  指城市中流俗之人

Source: http://baike.baidu.com/view/849797.htm

聪明【英译】wise；sensitive clever；smart

Source: http://baike.baidu.com/subview/95047/11119951.htm