They would never doubt the
genuineness of my degrees...

It's not a question of doubt. It's now a legal requirement to have them (at least one) notarised. Vietnam also require TESOL diploma's to be notarised/authenticated.

The cost of doing so can be as high as USD$1000 - which for some, is a month's salary in China.

It's already beginning to have a noticeable effect. Just one month away from the beginning of a new semester and schools are e-mailing contracts to FT's who have their resume posted online. Not a request for an interview, not a request for discussion, just a 'Hello, I saw your resume, please sign here!'

A friend of mine, who has been working in China for the last 4 years, asked his school to increase his salary from rmb12000 to RMB12,500 next semester. Of course, they couldn't possibly do that so he decided not to renew his contract. He signed with another school for RMB12,700 and before the ink was even dry, his old school were texting him offering him RMB14000 plus normal pay during the summer holiday. Why? Because they can't replace him - simple!