I would be most concerned about the Chinese characters, as they provide more of an indication of silver content than a makers' or retailers' mark.
In the photo provided, the Chinese characters are not clear impressions, which in my mind always raises suspicions. The Chinese mark on the left is the crucial one. For that matter, to have only a retailers' mark with "CHINA" would in some cases suggest a lower grade silver content and a late Republican era production.
Those other items marked Zung Li that I have seen appear to date from the 1920s-1930s, but they are only tentatively dated based on style and quality, and the "CHINA" mark, rather than on documentation.
I have no definite information on this retailer, but someone else may know more.
Please bear in mind that this is only one opinion based on a few photographs. Photos of all of the Chinese marks might yield different results.