You do not need a degree for China.

As turnoi himself mentioned, it is better to have one for HK or Taiwan, in fact, it is more or less a prerequisite. You can teach kindergarten or even get a job with a foreign/chinese company in China sans degree. I know of two brits who don't have a degree, and one is a sales manager, and the other a DJ. Ergo, no degree needed if you are a whitey in China!!!