I realise this thread dates back to 2012, but for completeness and for anyone who may contemplate the same... yes, it is possible. If one has legal residence in mainland China, and provided motorcycles can be plated in the jurisdiction where one is regsitered for residence purposes then all good, which usually means not one of the 200+ odd cities that have motorcycle bans. However, most of those cities have districts, towns nearby that do plate motorcycles, and one would need to use a little creativity (e.g temporary rental agreement and residence registration) to get it done. It is also incorrectly thought that there is some magical restriction in terms of 250cc. This changed with the likes of Jialing, CFMoto and Qianjiang (Benelli). Plus many other foreign brands and models are legally available inside China provided the manufacturer or distributor applies for and is successful in gaining certification (CCC).
BMW, HD, Bimota, Ducati, Kawasaki, Honda, Suzuki et al. Actually some of the models made in Thailand (CB500F, CBR500R, ER-6N, ER-6F, CTX700) are available in China at reasonable pricing as there is some ASEAN agreement which reduces the taxes and duties, so that the Thai made models are much cheaper than the Japanese or EU made models.
A good mate ihas just ridden from China-Laos-Thailand (CR) and is there at the moment. He rode his China plated YBR without any hassles. He'll be back here in a few months then a few of us plan to ride China-Laos-Thailand, years end on Chinese plated bikes.
It seems that the bike can stay in for as long as the Thai visa in the passport.