They pay 12 months a year, 7k.
Must be a rubbish TC.

Yep, 12 month salary-paid contracts in China? Huh! Not issued in the public sector nor by private colleges nor by private universities nor by private schools in the traditional sense. Why not? Because those students go on holiday twice a year. They need not foreign teachers during those holidays, so why should the employer pay the foreigner a full monthly salary during those 2 major vacations?
By contrast, training center foreign teachers are equally busy during those 2 vacations teaching. That guy is a barber's cat, but not my barber's cat!