I know a WenZhou guy here running a fairly large group of registrars and web advertising businesses. He was asking me about setting up something in competition with paypal a while ago
not that I'd know anything about that
but I did give bitcoin a plug - this was 9 months ago. He's got a Hong Kong company for billing mainland customers (saves himself 5% or more not having to pay local provincal/city taxes). I can think of a couple of Chinese guys like this, would love to try and help you setup something, maybe even chisel myself a little piece of future China bitinstant processing!?
Banking is so good here, really you just need someone ballsy enough to start taking direct bank to bank payments with all the necessary guanxi to smooth out possible misunderstandings
. Lots of big cities are actively courting IT startups and talented people. You can buy coins on Taobao using Alipay's payment processing (5% they charge).