I'm Chinese also and speak three dialects plus English. My wife who was born in Brunei speaks 4 Chinese dialects plus Malay and English. I grew up in US while my wife grew up in Canada.
Our two boys, 4 1/2 and 2 1/2 can understand English, quite a lot of Mandarin, Hakka, Taiwanese and picked up some Spanish from TV while watching Dora The Explorer. Sometimes our little one will pace himself around the house and count in Spanish, up to ten that is. Our older son usually asks and responds (to our questions) in English. He will use Mandarin, Hakka or Taiwanese every now and then.
Kids can pick up several languages at once, like my own and my sister's two kids. I do, however, correct my older son when we read books on his pronunciations. I still have a slight accent that I can't shake, but so far, my two boys talk just like the "regular" ABC's.
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