I bet it was re-barreled in 1954 and donated to the Taiwanese, South Koreans, or South Vietnamese. The circular sun/flower emblem is telling me Taiwan for some reason. To my knowledge, the Chinese did not copy the M1 Garand. The Soviets were dumping Mosin Nagants on the Chinese enough for them to not worry about engineering a copy of the Garand.
I am VERY surprised it only costs $340. While well used, that Garand is in good condition. Have it head spaced and the bore inspected just to be sure.