House points are much more than numbers. They represent a way of building community among young wizards and witches, as well as instilling a sense of responsibility and comradery in them. Did this really work?
Judging by this graphic representation for all the points ever taken and awarded in the Harry Potter book series, I highly doubt it. I mean, Dumbledore simply loved showering Harry and Ron with house points, and the rest of the students—well, not much could be said for them.
In the books, points served as rewards or punishment and helped with overall discipline. Maybe China got the idea for their new point system from JK Rowling. Much like in the Potter Universe, China has started to implement a point system to rate its citizens: you will earn points for being a “good citizen” (ie. paying bills on time, having a good credit score and abiding by traffic laws) and points will be taken away when citizens behave “badly” (ie. skipping a stoplight, failing to pay credit cards, etc). The points scored through this program will be a factor in determining state-appointed benefits for the Chinese, like receiving an extra monthly stipend or having access to public housing. I don't know whether or not the Chinese system will work, but if China's president is at all like Dumbledore, I would expect A LOT of points for Harry.