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I must say most of the 老外s I knew in China are also kind and honest persons.
For my personal case, the 老外 who helped us to transfer our money was my wife's boss, an american, and his annual salary was US$200k. Our money is far too little for this guy to do anything wrong. Besides, since we were still in China at that time and had already got an account in Canada, I could checked whether the money had arrived in our account in 2-3 days. Therefore, I didn't think there were any risk at all under such situation.
The advantage of doing this is that the trasfer fee of Bank of China is base on a percentage of the money you transfer ( as I remember ) and this will bite a small chunk of your money. On the other hand, the wire transfer fee of foreign banks is counted by transaction, about 10 bucks/trans. It will make a real difference if you transfer a big amount.
Finally, as I have mentioned in my last post, the 老外 is doing you a BIG favour by doing this. Since if he can not spend all the money you give him in China, there is also no safely way for him to carry that money out of China.
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