Can i transfer a valid visa from an expired passport to a renewed passport?

You cannot transfer a valid entry permit to a renewed passport. But if the information on both passports is the same, you can travel with both passports.
Your passport should have at least 6-month remaining validity for the initial application. After you get the multiple entry permit, you can enter PRC as long as your passport is valid. So if you get the multiple entry permit now, you can use your passport to travel again in March.