Transfer visa to new employer

My residence permit expires July 31st. On June 5th I signed a new contract and let my current employer know I wasn't renewing. They said they would help me transfer the permit by cancelling the existing one. My contract doesn't actually expire until July 14th. Nevertheless, they said they would get me the cancelation and release letter by the end of next week (June 22nd). The new school will then proceed with applying for my new work permit and res permit. According to new rules, as long as there is at least 30 days remaining on my res permit, this is no problem to transfer the visa. My question is, can I travel during this period or do I need to stay in China until the new entry permit is stamped in my passport. ie could I go on a holiday from July2-16th, and then come back and get the entry permit stamped in by the 31st?