Hi, i'm in canada, but not toronto. Your yearly salary is the entrance of middle class of Canada(very good, most of new immigrant can't achieve this level a few years after landing). And the average living condition in China is less good, so with your salary given, you can feel fulfilled easily in china. I think in Canada, we don't miss MBA, whose success much depends on networking, personality, cultural background and certainly profession knowledge. I suggest you change unpleasant working environement instead of going aboard. But if you do like chanllege or want to live in north american or want your children educated in north america or some other specific reasons, you can go ahead. hope helpful for your decision.
Frankly speaking, to do a fulltime MBA in canada is a waste of your life given your experiences. A restart from scratch at the age of 40 is not worthy. I understand your thoughts about looking forward to living in the north america, but the older youare when you come, the more you will feel regret and very upset by the culture and language barriers. The even worse thing is that Canada is not a country for you to pursue "north america"dream, U.S. is much better in terms of opportunities....
1, Get another job in whatever fields that you are interested in.
2, (doing the option 1) Go for EMBA program, CEIB is the best one i recon.
Btw, I'm in Australia, not Canada. But they are similar.
Going aboard is such a big dicision, which will change your whole life, that you better take a holiday, say 1-month, to have a "LIVING" in Canada and then you WILL know what we are talking about.