The contract itself is fine and having flown in China I definitely think it's a good experience, but there are snags to any China position.
Most will take 3 months at least from your initial application before you start work. Chinese immigration law is a pain to deal with. The medical you have to do is very probing and not very clothed. Also they make you sit a pass/fail Chinese ATPL exam that if you fail means that can't apply again for around 3-6 months.
There is also a very high chop rate for people that apply to China as the Chinese have that mentality that they will only hire 10% of people they put forward as they want to make it look like they have really high flight standards.
It is definitely worth a go however if you can get a contract it is a lot of money and if they are giving you a type rating, you can't really ask for more. I would just say keep you options open while your applying.