The Chinese should not be under estimated. This gun might have issues, but I wouldn't dismiss their claims on the capabilities of the cartridge out of hand the way a few have. It makes no benefit for them to lie about what they can do.
The Chinese, in waiting so long to enter the fray in modern assault rifles, and 2nd gen assault rifle bullets, that they've likely built a
3rd gen assault rifle bullet.
We'll know as soon as the Chinese attack someone. We'll likely see the results on TV. And given that combat (mechanized) often happens at such close distances, I wouldn't be surprised at all at hard plate penetrations against Japanese or Taiwanese troops (their most likely opponents as of right now).