Is it permissible to hold Friday prayer in the prayer hall of the university dormitory if there is a nearby mosque where Friday prayer is held with a Chinese sermon that is not understood by the scholarship students?

The fundamental principle is for Muslims to gather in one mosque for the Friday prayer for several purposes. It is not permissible to have multiple Friday prayers except out of necessity. There is no necessity to hold a Friday prayer in university housing as long as the mosque is nearby. Not understanding the sermon in Chinese does not invalidate the prayer, as the sermon is valid even if not in Arabic according to many scholars. You will be rewarded for attending and listening.