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As I got to know from my boss, they must cancel the work permit, however nobody will tell you to leave the country before the expiry date of your visa

I have only had bad experience with this situation, and have found that if you have a good relationship with the company then it shouldnt be a problem, but the rule is they are supposed to give you one month then convert your visa to an L visa in which you have 30 days to vacat and get the F+++ out of dodge

don't confuse him.
it is called alien employment permit, not work visa.

So my understanding is even with the alien employment permit invalidated, however, his " Z visa" still remains valid.
A friend of mine has checked that with the PSB at XiaoJieQiao.

Also, if I am not mistaken, a Z visa is something that was issued in the past.
Now what you actually have in your passport is a residence permit. It looks similar to a visa but does not mention number of entries permitted, like the old Z visa used to show.
Not to be confused with the residence registration, the white piece of paper that you get from the neighborhood PSB.

Yes, it's like this. I am going to lose my job cause the Company is closing the Office. My boss told me that they are forced to cancel the Alien Employment Permit, but the Residence Permit will still be valid until the expiry date.

Thanks....it might be the case, let's wait for next week final interview in another firm.

Kinda thinking soon or later to leave the place and come back here like a real expat in the future....tired of all this visa thing!

by law they must cancel your work permit immediately so if they dont have the permit they will inform the labour bureau but cancelling the visa is a different issue i dont think they can do it but be carefull as you are supposed to go down with them and change it to L but if you dont go with them they cant do it

they cant, not unless they have alot of Guanxi on the inside!

You should be fine. They may want to take back your "Alien Employment Permit" (a small booklet), just tell them you need to keep it to transfer to another company. I think you'll need a "Employment Termination Letter" from your current company when you actually transfer the permit to a new company.

The residence permit in your passport should be valid until it expires, I've personally not heard of anyone getting that cancelled. I think most companies are pretty relaxed about this.

According to 劳动局 and Alien employment related bureau a Z visa and working permit must be canceled by the company when you leave. This is strictly the law and it has to be applied by the HR of the company you are working for upon resignation or departure. If you get another job with your previous working permit you are outlaw. If you get caught with this Z visa while you aren't working for your previous company you get fined and your previous company gets fined as well.
Upon cancelation, you get back a one month F type.
Now your can dodge the rain and live peacefully with a Z type (as I did for over 10 months). Good luck with that.