I'm a bit confused by your post. A station in Beijing, playing Beijing hits and calling themselves "Beijing 104"? Am I understanding this right?
If what you mean is would a station drop its current format for a format from China happen here in the U.S. then the answer is yes. Look no further than 300 miles to your east, San Antonio. Houston has three stations, albeit on AM, that has the C.R.I.-China Radio International format on the air. These stations are KXYZ-Houston, KGBC-Galveston, and KYND-Cypress. All three of these stations have abandoned their previous format to sell the airwaves to this Chinese group. Their news and sports are primarily from China, with a dash of international news stories and sports events thrown in. Now, while I'm not overly concerned with the happenings of the mainland of China, I will say their music log is one hell of a lot more entertaining than what's the norm here in Houston, Texas. Imagine Otis Redding followed by Bob Seger, which flows into A Split Second, followed by Jet, then to Heather Nova, and end the hour with T.I. KXYZ seems to be a lot more talk oriented than the other two (KYND and KGBC are simulcasting for now) so I don't listen to 1320 as often, but I have caught myself listening to 1520 KYND quite a lot since it flipped from Vietnamese brokered to C.R.I. While I don't believe any of the three stations have a snowballs chance in Miami of ever making even an appearance in the ratings for Houston/Galveston, it certainly is a treat to be able to turn on the radio and hear a song like "Tuesday" by Yaz which hasn't seen the light of day on a full market FM here in Houston since it was big back in the 80's. It's all brokered here, so it'll be on the air as long as the checks don't bounce. If it is to happen in San Antonio, my money would be on KTMR. 1130 KTMR is owned by the same company that owns our local 1540 KGBC/Galveston.