Well let's break it down:
- unique rifles are the worst of the 3, Korean or British are definitely better
- nobody cares about spawning infantries, they get killed in a second anyway
- +1 merc is nice, but not as good an offensive bonus as other nations have, like +1 tactic, more troop space, or the german damage thing
So the only thing that makes Chinese really worth it is the +1 citizen. That's a great bonus, and the reason I played Chinese from start till Enlightenment. When I hit Industrial, I swapped because I wanted more combat power, and the extra citizen had done its job by then.