Sure beats the alternative...
I say go for it, Jiang.
If they can colonize the moon, they won't need a blue water navy. Nor will they need a big armoury of missiles, or for that matter, much in the way of warheads.
Set up a few necessary structures on the moon (with some defenses), and you can control things pretty well. The chicoms may well see this as rewarding enough to override any smalltime economic objections... err.. reality.