And the contract itself....

wished to engage the service of Party B             as a foreign teacher. The two parties, in a spirit of friendly cooperation, agree to sign this contract and pledge to fulfill conscientiously all the obligations stipulated in it.
II. The period of service will be from the    day of      ,       to the      day of       ,      .
III. The duties of Party B (see attached pages)
IV. Party B's monthly salary will be ¥      Yuan RMB.
V. Party A's Obligations
 1.   Party A shall introduce to Party B the laws, decrees and relevant regulations by the Chinese government, the Party A's work system and regulations concerning administration of foreign experts.
 2.   Party A shall conduct direction, supervision and evaluation of Party B's work.
 3.   Party A shall provide Party B necessary working and living conditions.
 4.   Party A shall provide co-workers.
 5.   Party A shall pay Party B's salary regularly by the month.
 VI.   Party B's Obligations
 1.   Party B shall observe the laws, decrees and relevant regulations enacted by the Chinese government and shall not interfere in China’s internal affairs.
 2.   Party B shall observe Party A's work system and regulations concerning administration of foreign experts and shall accept Party A's arrangement direction, supervision and evaluation in regard to his/her work. Without Party A's consent, Party B shall not render service elsewhere or hold concurrently and post unrelated to the work agreed on with Party A.
 3.   Party B shall complete the tasks agreed on schedule and guarantee the quality of work.
 4.   Party B shall respect China's religious policy, and shall not conduct religious activities incompatible with the status of an expert.
 5.   Party B shall respect the Chinese people's moral standards and customs.
VII. Revision, Cancellation and Termination of Contract
 1.  Both Parties must abide by the contract and must refrain from revising, canceling, or terminating the contract without mutual consent.
 2.  The contract can be revised, canceled, or terminated with mutual consent.  Before both parties have reached an agreement, the contract must still be strictly observed.
 3.  Party A has the right to cancel the contract with a written notice to Party B under the following conditions:
    (1) Party B does not fulfill the contract or does not fulfill the contract obligations according to the terms stipulated, and has failed to amend after Party A has pointed it out.
(2) According to the doctor's diagnosis, Party B cannot resume normal work after a continued 30 day sick leave.
 4.  Party B has the right to cancel the contract with a written notice to Party A under the following conditions:
    (1) Party A has not provided Party B with necessary working and living conditions as stipulated in the contract.
    (2) Party A has not paid Party B as scheduled.
VIII.   Breach Penalty
     When either of the two parties fails to fulfill the contract or fails to fulfill the contract obligations according to the terms stipulated, that is, break the contract, it must pay a breach penalty of either US $500-$2000 or the equivalent in RMB.
If Party B asks to cancel the contract due to events beyond control, it should produce certifications by the department concerned, obtain Party A's consent and pay its own return expenses; if Party B cancels the contract without valid reason, it should pay its own return expenses and pay a breach penalty to Party A.
    If Party A asks to cancel the contract due to events beyond control, with the consent of Party B, it should pay Party B’s return expenses; if Party A cancels the contract without valid reason, it should pay Party B’s return expenses and pay a breach penalty to Party B.
IX.   The appendix of this contract is an inseparable part of the contract and has equal effect.
X.   This contract takes effect on the date signed by both parties and will automatically expire when the contract ends. If either of the two parties asks for a new contract, it should forward its request to another party 90 days prior to the expiration of the contract, and sign the new contract with mutual consent.
    Party B shall bear all expenses incurred when staying on after the contract expires.
 XI.   Arbitration
     The two parties shall consult with each other and mediate any disputes which may arise about the contract. If all attempts fail, the two parties can appeal to the organization of arbitration for foreign experts’ affairs in the State Bureau of Foreign Experts and ask for a final arbitration.
This contract is signed at                                  , in duplicate, the     day of        ,      , in the Chinese and English language, both texts being equally authentic.

Completely standard.  Nothing stood out as different from any other state school contract I've seen.

It's exactly the same contract as mine.

I think the date is in the other part isn't it.  I remember reading 6th of the month somewhere. 

Am I blind or there is no mentioning of taxes? In China, first 4800 aren't subjected to taxes. You might want to clarify that your salary is 5000 AFTER taxes. Which means your school takes care of the taxes and presents you with a tax report paper every month (you may be asked for one while traveling out of China - you never know! Plus, I believe you can get a certain tax return when leaving the country for good - recently heard something in passing).

My salary is given in my contract as a higher amount than I actually get.  I get a tax receipt showing taxes paid every month. 

Cheeky's question is a good question.  Definitely ask about your salary after taxes.

Hey!  If this is still CzMec you're talking to, the official payday is the 6th of every month.  However, it is direct-deposited into your bank account, and I'm usually paid by the second or third of the month.  That is something they're really good about.