Design in China fluctuates wildly. They are still in the period of modernizing so I find that the design aesthetic tilts in every which way. There are a lot of really tacky/gaudy things in China based on where Western design has gone over the last 30 years because they haven't really matured to a level of sophistication beyond that sort of style yet. There's still that kind of 80's bling, bling opulence which makes sense considering their rapid economic explosion in the last 10-15 years.
That's kind of cool in some ways.
I think the wave is supposed to represent an Asian aesthetic like a pagoda roof or a Chinese golden ingot (Sychee) which is a very common traditional symbol of wealth.