Yes I know what you are talking about. And it seemed to work a few years ago. But I've heard fairly recent multiple reports of this certificate-in-lieu-of-actual passport being refused at PEK for check-in for domestic flights. Issuance of boarding pass denied despite escalation to managers. Maybe it still works where you are. Hotels not a problem though. Trains likely also not a problem.

The thing is though, most people who are employed don't do the annual renewal themselves--someone on the employer's staff takes the foreigner passports to the PSB and deals with the hoop-jumping. I suppose you can ask for the staff member to get the temporary certificate...but that doesn't mean they will actually fulfill one's request. If the passport is only out for processing for a couple of days it's not a big deal but if a week+, can become an issue.