I think it's a smart release date.
It will reduce the decline of the sales after christmas for one or two weeks.

Apparently Final Fantasy X/X-2 on PS4 will be localised for China

Not region locked? YES! I really hope that there will be Chinese exclusive physical releases, I would definitely try to get some of them.

According to this page Killzone: Shadow Fall, LBP3, Winning Eleven 15 (PES 15) and NFS: Rivals will be among the launch titles, also coming with a Winning Eleven 15 bundle.

If all we are hearing is true, Sony have completely outmaneuvered MS on everything bar the launch date.

PS4 is so much cheaper than the XB1 in China
PS4: 2.899RMB = $468.56
XB1 without Kinect: 3.699RMB = $597.86
XB1 with Kinect: 4.299 RMB = $694.83
The PS4 is $129.30 - $226.27 cheaper than the XB1 in China

Looks good so far.

Well the prices are very nice. Sony can afford to do so since they produce most if not all of their hardware inside of China.

and the release date is... ?

January 11th it looks like