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China is going through a difficult time during which people all go for wealth. The same thing happened in the past in western countries. Maybe during the period of Industry Revolution.
I'm trying to explain why Chinese seem "immoral". Actually it's a phenomena which can be seen in many countries. The reason is that China's under-developed. It needs time to build up people's sense of citizenship. But before that China has to make sure that it can reach the basic standard of living conditions.
But actually most of the Chinese people after elementary education have faith. That is the Theory of evolution and Atheism, rather than other kind of religions.