I am a Jinling Elite member. They offer to transfer points into miles. They have a few airlines to choose from. The biggest are CA and MU. 3200 points for 800 "air kilometer". Does anyone has done this before? How does it work? Can I transfer multiple times in the same account? Also, I haven't decided with which Airline program I shall go. Any suggestion is welcome.

All other things being equal, I would direct those points towards MU (just remember, air points have much stricter expiration terms than hotel points so it's best to hold off until you have an award in mind) because CA have points have lost a lot of their relative value since CA joined *A (i.e. I can rack up UA points much faster and, with the exception of CA upgrades and a view value priced awards like LH and CX, they are functionally equivalent).

I think I have to invest some time to study the CA and MU mileage programs. Is there a promotion to refer people and get extra sign-up bonus? Probably I will join both programms.

Whats the expiration timeline for the programs points?

I'm not aware of any sign-up bonuses, and --unless you have a ton of points; or if you are close to nice award levels in each-- I advise you to pick one (see below).

AFIK, most Asian FFPs have terrible expiration policies that basically assures that sem-frequent flyers (without miles-earning credit cards) don't get rewarded much, if at all. IIRC, the way it works on CA and MU is as follows:

-Miles/kilometers earned (or deposited) during 2008 expire on 12/31/2010, regardless of account activity
-However, hotel points and credit card points are much kinder in this regard... so it makes sense to hold them in this form until you're ready to redeem

Basically, at the end of every year, frequent flyers in Asia that stay on top of this stuff end up making all sorts of silly redemptions. For example, at the close of 2007, I booked:

-2 oneway tickets from Lhasa to BJ (figured I'd take the train there)
-2 1000km upgrades

It sounds to me like you might be better off holding onto your hotel points; maybe you could snag some Olympic rooms and then trade for something useful in the Coupon Connection?

after some research I must say you are right. Will keep them as Hotelpoints for the time beeing. Hopefully the hotel will come up with some better items where I can trade my points in...

Thanks for your profound thoughts!