In the latest Airways (I think, though maybe it was Airliners) there is a multi-page kool-aid story full of photos of that operation.
As an ex-ACA/Indy guy I would love to see the day this Lorenzo-clone goes down the toilet, but agree with the previous poster that this is probably a very smart business move, as China's airline industry may be growing around 30% a year for many, many years to come as it gradually becomes the world's largest economy, growing perhaps 10% a year even as we in the US go through recessions at worst, and very slow growth at best. And unlike India, China keeps rapidly building up its infrastructure.
As for living and working there, I have no clue what they will pay. But on a thread posted here some time back, the recruiter for contract flying for CRJ street captains for some other (or was it the same?) chinese regional paid fairly well when one takes into account a pay stipend more than enough to rent a multi-bedroom furnished luxury apartment in their base city, Beijing. Pollution aside, in a city like Beijing one needn't speak a word of chinese to get around and one has access to every Western good (80% of them assembled in China anyway now) and amenity. For a single person without baggage, it could be a charm. And they offered transfer to the 737NG fleet after the contract was up.
If the CA is Western and the FO Chinese, life could be interesting of course, but probably no more interesting than babysitting 250 h wonders at the regionals now. At least the talent pool there is vetted from a billion people based on merit as opposed to a rich uncle paying 'zero time to airline in 6 months.'
Like I said, I hope he fails, but suspect China will be one of his success stories, and he will undoubtedly use iit to leverage against his pilot group (threatening to transfer hulls over there).