I've never traveled with a bicycle myself, but on my last trip to Asia I met an Englishman who travels often on business to China. We met in Yangshuo, in Guangxi, and he was traveling with a folding bicycle. He seemed a very practical sort, a designer of medical instruments and when I saw him off as he left to go to the airport, he seemed quite comfortable with his bag and another with the bicycle, going into the back of the taxi.
I know nothing about it except what I observed, a happy traveler and his bicycle folded into a bag and on his way. Assuming one wouldn't want to necessarily need taxis for shorter trips, then I imagine the best plan would be to have what you need pared down to a not-too-large backpack that could be worn while riding.