A few years back my plate expired sometime in January, and though I'd ordered a replacement and put it in my glove compartment. I realized to the error my embarrassment mid-march, and changed the plates out to correct the issue. I drove my car daily for nearly three months, often past police vehicles. Never once had I been pulled over, because I drive responsibly and my municipality isn't dependent on tickets for too large a share of its budget.
Expired plates are much higher on an officer's list of things to check than figuring out whether every oddly badged or exotic looking car on the streets can be legally imported for its model year. Even if you do get caught, the fact that you could afford to illegally import a vehicle is a good sign that you can afford the legal fees and fines required to forestall any asset seizures. Especially in China, where affluence and political connections often go hand in hand (not that it isn't the case in the rest of the developed world to some extent either).