An interesting offer, I need some advice.

[Leherself]

I would absolutely do it. That's an amazing opportunity, and they're in effect paying you to go. As far as delaying your career goes - this may set you up for a completely different set of opportunities upon graduation that you wouldn't necessarily have access to without completing the program - especially if there are any internship or work/study opportunities that you can take advantage of. Sounds like a good networking set-up too, probably. I think in the end you'll come out way ahead - as both a Master's degree holder, and also hopefully a fluent speaker of Chinese.

Probably the biggest logistical hurdle in my mind would be whether you want to and are able to live in China for three years or not.