Traveller's check (VISA or AMEX) you can buy them in any local bank. And it could be free if you have a gold visa card (e.g. TD Gold Elite) or a good checking account that covers the cost (otherwise ~1%). It is very safe. It acts just like regular check. You can cancel it anytime (if you lose it on the road). Lots of foreigner-dealing stores/restaurants even take it in Shanghai.
No trasfer wait time, the check is with you and you can get cash any time and you get better exchange rate in the bank (Bank of China) than cash. The ones you can not spend (I wonder why ) you can either keep for next time or bring it back here in Canada and cash it (free for AMEX check).