That sounds about right. Sending an expat to China costs about a quarter million USD/EUR per year.
And given the horrendous taxes it's only logical to pay a large chunk of the salary through benefits such as housing, health care, schooling which are business expenses and are taxed separately.
Let's bear in mind though that this survey does not include "half-pats", foreigners without the whole benefits package but somewhat above local pay nor local hirees.