Another important thing to note especially for fresh graduates, you need a minimum of 2 years post graduate work experience (after graduating) in order to satisfy local district laws for Z-Visa. This is heavily enforced at major cities like Shanghai, Beijing etc. Had a few offers from MNCs in Shanghai and HK when I graduated last year, but couldn't secure my Z-Visa due to this restriction.

I've tried adding my summer internship experiences which amounted to 2 years and those were rejected too. The only way I could foresee myself working there legally with a Z-Visa are either,

1. Obtain 2 years post grad working experience elsewhere and then jump over China.
2. Inter company transfer (another type of Visa is issued instead and can be renewed).
3. Have either parent who has HK Citizenship and apply for 'Rights of Abode' for HK PR. (Which was what I did after finding out a year later )

Finally, the packages I had for my graduate position (structural firm) was very competitive ranging from 18,000-24,000 RMB per month not including other allowances (I do believe these are expat rates, locals only get half or a quarter of that). If you have the opportunity to work in China, I'd say go for it. Art, food and culture there is superb compared to ASEAN countries.