China is one of the fastest growing economies in the world and is an exciting place to be right now. The thirst for foreign teachers has led to there being lots of teaching jobs available. The cost of living, whilst not as low as a few years ago, is still very reasonable and your standard of living should be higher while you are in China than at home.
Beijing, Shanghai and Guanzou are the main expatriate cities and, there is a lot to see and do in the three main conurbations of China. They are all very crowded and you will soon learn to move fast or be overwhelmed by the crowds. Unless you simply crave a burger, get used to eating the local food - it won't necessarily be the Chinese food you were used to at home, but it will be delicious and by far the cheapest option.
There isn't any need to take too much with you when you go to China to teach. Tailored clothes are a speciality pretty much everywhere and cost about the same as off the peg elsewhere and as long as you aren't tempted by the European food on offer, you can live cheaply enough to be able to treat yourself.