I have never heard of a "chinese" virus that is exclusive regionally. Norton updates their definitions with what's floating around on the internet as a whole. I've never had a problem with norton actually, then again I don't visit sites that have excessive adware or other suspicious activities.
P.S. In defense of Norton, I do agree that all their newer clients absolutely are horrendous and useless. However, I'm using an old corporate client that I never have to renew and works perfectly integrated with my emails in outlook and auto protects with the latest definitions. So I cannot complain. And back then, it was still symantec.