It hasn't bothered me that much since I am highly qualified with several PhDs, and I am still receiving job offers from China for special uni positions as a foreign professor. But that may be rather the exception than the rule.

I am still receiving job offers here in China, but I'm retired now. I have no Tefl qualification, or anything like that - just a BSc degree. I think until a person is 65 in China, he (or she) can get a teaching job, in the public or the private sector fairly easily.
Of course, jobs like teaching oral to senior middle school students aren't paricularly demanding, and involve neither assessment of students nor any marking - a proverbial walk in the park! Many Chinese employers know that experience is more important than paper qualifications. I think that in this respect, they have more sense than most Western employers. Turnoi, as you know, I was a professor at Hua Qiao University of Changchun for a whole semester, but I didn't let it go to my head!