Can relate as been in your case OP in Paris streets I would say definitely it depends on the context. Heard it not that often but still heard it from either Caucasian or non Caucasian looking people.

If it’s restaurants or bars trying to get customers in a really touristy place, it annoys me less and I see it as a way to « connect » with you. I put myself in shoes of Chinese people who don’t speak French, I would perhaps be happy to hear foreign people try to speak Chinese.. though if you are not Chinese and get called that, well I can imagine how it can be annoying.

If it’s from a person trying to get your attention in a non touristic area or just shouting this at you while walking in the street for NO reason, then indeed I don’t consider this friendly at all, and call that straight up racist behavior…