Yeah, I gotta agree with the criticisms here.
1) Why not take out some human characters (or remove a superfluous chase, boom, "BB noooo! I LOVE YOU!!!" scene)? Take that extra budget and film the damn movie in Hong Kong! Like the previous posters said, Chinese people can tell the difference. How is this a good move for impressing Chinese audiences?
2) Chicago is a very SPACIOUS city compared to places like Hong Kong. You just can't narrow the streets physically to make up for that. And all the stupid ads? It looks like cheap wallpaper to make an ugly room more homey. I haven't been to Hong Kong, but I wouldn't go to Chicago and say, "Hey! This is like Hong Kong! But no Chinese ads!"
3) I was going to complain about the demographics they have as Asians, but then I remembered how the USA has a large Asian population to dip into. However, it's an entirely different matter if Bay casted actual Chinese versus other Asians. "Korean, Japanese, Chinese... same thing, right? They all look like orientals to me! HYUCK!
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This is going to be one of those things. One of those things were a lot of unintended insult will be hurled at China, and China (as a whole) will blame the ignorance on all of America. Just once, it'd be nice for a foreign audience to be media literate and say, "Hey, this Michael Bay is a d*ck. Not only does he fake China BADLY, but he makes all Americans look bad, too."