I am going through the same mess right now, and I am slightly farther along than you.
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Paypal is asking for the name on your Chinese bank account name to match the name you used to set up that paypal account. They must match exactly.
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Not sure about the branch name though. I had a chinese co-worker confirm mine (I can't read fuzzy little hanzi that I don't know anyway), and paypal was fine with the one I gave.
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My current problem is that paypal was supposed to send two small deposits to authorize- and I don't think they ever arrived. So now what?

A possible solution is to use a VCC (virtual credit card). I used one to set up a Chinese PayPal act. which is now verified and ready to use.

I dunno what your set up is though - I funded that credit card with an account from out of China. So maybe that is not the solution you are looking for.

I gave up with trying to use a Chinese bank account after unsuccessfully trying to do it with ABC, CMB and ICBC...

It has to be possible though...some how...

I had same problem as Joby with construction bank, they sent 1 amount instead of two. I tried to contact them, but stupid Indian person can't understand each other...

Name problem is easy to fix, you can email them to change your name, or make new paypal account. Worst comes to worst, there are like 3 different banks that support paypal in china.