I don't know anything about Shenzhen Institute of Information Technology but I can tell you that converting 'L' visas to 'Z' visas (actually, Foreigner Residence Permits) is still doable in Guangdong; my 'L' was converted in August 2007.

In any event, you can do an easy visa run to Hong Kong from Shenzhen to get a 'Z' visa; leave at 8:00 am and be back at 3:00 pm.