In theory, in every society, there is an advantage to belonging to the majority ethnic group and speaking the dominant language.
In that regard, being Han Chinese in China comes with privilege.
White privilege in the United States and Europe, though, is in and of itself a biased proposition. It assumes collective unearned gains, assigns collective guilt while simultaneously denying collective credit (having it both ways). Then the groups shouting that such a thing exists demand discrimination against whites today as punishment for the sins of their ancestors, while actively censoring and punishing whites.
The entire premise of unconscious bias, for example, assumes guilt and says even if you've done nothing wrong we will assume you are unaware of your biases so you're still guilty. This same presumption allows non-whites to attack whites for innocent statements and demand punishment of whites for things that blacks take offense over, when there was no ill intent.
The redefinition of racism by the same groups lets them exempt themselves from the negative term (heck of a privilege). So a group of blacks beating the crap out of a white guy they come across can't be guilty of a hate crime even as they target someone for violence based on skin color, scream racial insults and aren't arrested for it by cops. Thousands of such cases of "knockout" games and polar bear hunting per year, rarely is anyone arrested much less prosecuted.
The one case of a white guy engaging in the knockout game of a black, though, results in the Department of Justice getting involved and hate crimes being levied in addition to assault charges.
Ditto that a college educated black woman who received a free ride on scholarships can demonize the literally poor white kid as somehow privileged and demand he censor his behavior and language for the sake of her feelings, and if he points out poverty in his community, lost jobs to illegal aliens or crime, he's the evil one.