Chinese Hamsters can make lovely pets, I've had them fairly exclusively for over five years now and couldn't imagine life without one anymore.
As Chesca says, they do have a bit of a reputation at times for being shy and skittish but that's not always the case and I've found that with the right handling and environment, they can go on to be very trusting, loving and friendly. Some of this will depend on where you get your hamster from as hamsters bred by club breeders have been handled from the age of two weeks to ensure that they are used to handling by the time they go to their new homes but with a little patience, I have managed to tame all of mine including ones that have had little or no contact with humans previously.
Chinese are usually very good climbers and very agile and they are known for a rather charming trait of clinging to a finger with their paws and tail like a little mouse...
I have found that some Chinese can struggle to settle in very large cages and many of mine have been happiest in cages that are just a little bit bigger than a Mini Duna, however every hamster is going to be different and another of mine is content in an 80cm Hamster Heaven. They like things to climb in their cages, some nice substrate to dig around in and all of mine adore their hammocks.
In terms of lifespan, they seem to be slightly longer lived than the average Syrian providing they're not affected by diabetes. The longest I had one live to so far was three years and seven months and his brother lived until he was two years and ten months. Diabetes is a concern in Chinese however it is now thought that there are more factors that contribute to the disease than diet alone and a diet completely free of sugar is not necessarily going to stop a hamster getting the disease. I think the key is moderation though, just as it would be in humans and the odd piece of fruit as a treat occasionally isn't going to do them any harm. I find that mine prefer a few small seeds as a treat to some of those yoghurt-style drops that they sell in pet shops for hamsters anyway. It does pay to be aware of the symptoms of diabetes but it's important to test and see a vet before making any drastic changes to their diets or investigating other treatment options.