M Visa to Foreign Expert and Residence Permit

Hello - my wife and I are in China on M type covering Jan-July. We're both on UK passports although my wife's a naturalized UK citizen (previously Chinese). We are considering English teaching and translation work long term for which we are qualified and are interested in exploring either the most flexible employer/employee arrangements possible (i.e. without being 'trapped' by a Z type beholden to a third party company) or even setting up own FIPE business. Do you know if in Henan Province it is possible to use and keep our M types to get Foreign Expert Certificates and Residence Permits (once we do the medicals etc) that would permit us to then live and work? Or is the Z type + Work Permit + Residence Permit the only way to do this in Henan Province?