How to use my Verizon iPhone 4s in America and China - is jailbreaking the only option?

Disclaimer: I'm not the most tech-savvy so forgive me if my terminology is incorrect! 
I have a Verizon iPhone 4s with latest iOS update. I have relocated to China for work and would like to use it here. Have gotten my SIM unlocked but cannot use it without accruing ridiculous fees. Verizon uses CDMA and China is GSM, I believe. I've been told that if I get my phone jailbroken here, I can use it with a Chinese SIM but I am wondering if I can still use it back in America with my original Verizon number. Since I work back and forth China-US and am traveling, it's important I can use my phone.
I'm very nervous about jail breaking, as it seems a little unethical to me...but I'm wondering if that's my only option. How can I retain my American and Chinese phone numbers and still use my phones? Should I just invest in buying a new iPhone 5 so that I can use it internationally?
Am wondering if anyone here has had similar experiences. Would appreciate any and all help. Thanks so much!

Verizon does not unlock the iPhone 4S for use on U.S. GSM carriers, only for foreign roaming.

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