The standard of schooling is very high. You wont have any problems if you are interested in academic results, your Child will be able to choose to do subjects in Mandarin or Cantonese, but sporting results may be a different story. Not all schools have the room for sporting fields, and joining clubs after school can be very expensive.
With the literacy levels being obtained in the Australian public schools now, you would have to go to the USA to get a worse education!