I have a VISA Z and no multiple entry yet, can I apply for a M type once I'm in Australia?

I just obtained my Z type as I will be working in Shanghai, but I need to go to Australia for business 12 days after my arrival (not long enough to get the residence permit + multiple entry). Can I go to Australia and do an M type application there in order to get back into China? I am not Australian, but French; will my ETA visa be okay to do the application?