Gary...You'd have the same slop between the barrel bushing as the stock bushing provides, but you'd be ahead on the bushing to slide fit. Every little bit helps, but unless there's a fairly big difference in the fit...it may not be enough to make it worth your time and effort.
If you know someone who has a lathe, you can chuck the barrel up and use a die grinder...carefully...to reduce the barrel's diameter starting about a quarter-inch behind the muzzle so you don't need to ream the bushing.
The reduction doesn't need to go all the way to the forward lug. Just far enough to let the barrel drop freely. About .005 inch should do it...but test just to be sure.
The reason that you'll need to grind it is because the stock Norinco barrel is hard-chromed. A file won't touch it. It's thin, though. Once you grind through it, you can use a mill file to finish the job and it'll let you hold a closer tolerance on the finished diameter over the length of the barrel.
Understand that, once you breach the chrome plating, that there's a fair chance it'll flake and peel on other areas.