Visa on arrival with expiring X type

hey,i have been studying in china for 5 year and about to graduate. my student type expires on the 31st july and the school is not will to extend it for me. I still need more time like 2 months,someone told me i should make exit to Hongkong or malaysia before my X type expires,and come back inorder to get a 1 or 3 months entry permit /stamp on arrival to allow me stay in china. Is this possible or legal?