Chinese real estate, entertainment and sports conglomerate Wanda says it will host an annual "China Cup" tournament, which will begin next year and feature four national teams. From another article I read the field will be expanded to include top European and S. American teams. Article: http://www.espnfc.us/china/story/2912241/wanda-to-host-annual-china-cup-to-boost-national-side
They'll probably schedule it during an official FIFA date. But when they expand to 8 teams in 2018 it will be interesting to see how it's handled.
Set to begin Tuesday with China v Iceland. Chile plays Croatia on Wednesday. Chile selected a squad of mostly local players with a few European based players and some Mexican League players. Of note, Eduardo Vargas and Angelo Henriquez should handle the attacking duties.
I imagine the officiating will be incredibly favorable to China to prevent them from getting humiliated. Chile could easily pull off a 7-0 type result on China.