I've been doing some checking of my own into online Masters Programs. I have yet to find anything that just really jumps out at me at the moment - but this is one place I've been taking a close look at.
http://www.une.edu.au/arts/LCL/disci.../appl_ling.htm
Hope it helps. I'm not sure when I will be able to do this, or even if I really want to yet at this point. Just thinking things over, getting information, seeing what opporunities will open up because of the advanced degree and what not. As for China, this doesn't really seem to do me much good at the moment, but hey, being the only person with a MA in EFL/Linguistics might open doors I haven't thought of yet.
All I know is that you should take your time in selecting a course. Do your homework about the school - having a good reference such as the one above doesn't hurt either. Get a lot of information, then sit back, let it kinda sink in, then when you ready to choose, pull the trigger and push for all you're worth!
Personally I'd like to find a distance learning program that lets me work at my own pace - I'm a fast-track type who can really crank out the work. In college in America I was taking 22 credit hours with a writing class on the side - they allowed me to do the written work without actually attending the class, and I was cranking out 10 page research papers every 3 weeks.
That's the pressure where my brai kicks into high gear and really starts to function. When things ar easy and slow, I get bored and my work gets sloppy. My pulled the best grades of all my years during that semester. So, I'm still looking for a fast-track program that will let me go my own speed.
If anyone knows of such an animal - please post a website or something here. I'm also concerned about legitimacy. I don't want to get hooked up with a diploma mill, so if you have a genuinely good lead, let me know.