Rob:
I don't know about the silk purse, but I don't think it's a sow's ear. It's certainly worth figuring out how it was made. I'm not at home right now (on a short holiday in Cannon Beach, Oregon), so I don't have access to my books or files, and I can't recall seeing anything exactly like this.
If you put Chinese into the search function here, you'll find lots of info. Briefly, there's a long history of Chinese glass, and some of it was very high quality. The market was flooded with reproduction (some very clumsy) Murano from there in the 90's, and they're still coming. However, it's got to the point where you can't really generalize about the quality either, as some of it is good. I notice you were in Venice in 2009; you would have seen tons of Chinese glass there then. I was there the same year and some shops had nothing but.
Also had a look at your collection. Some very nice and interesting pieces. I like small pieces, too.
David