I grow tired of hearing this nonsense.
People who market things from China often take liberties with the specifications. Marketers in the U.S. are absolutely no different. (Case in point- the mileage estimates on every new car).
So, if the marketing spec says 700mA, then I feel comfortable at 500mA.
If you think everything from China is crap, then stop buying anything electronic because no one else is making it at the price level you want to pay.