Pros
Some of the good points of working for China Daily is the exposure to media in China. One will definitely understand "how it works" in terms of how things get done. For young journalists wanting to start in China, it is a good first step in the right direction, as the paper does carry some weight. Depending on how much one pushes for their articles to be published the workload can be as much as you make it. There are also growing opportunities to be involved with their other platforms.
Cons
As this is a Chinese SOE, there is the inevitable Chinese management style. Some are OK with this. Others can find it to be quite frustrating. There can often be tensions between leaders and foreign staff over various issues. The tasks that foreign copy editors and writers are asked to do can also be dull and mundane and there are little to no opportunities for professional development for foreign staff.