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No, Shanzhai is not a company. Shanzhai is the name used to refer to cheap knock-off products made by various Chinese Vendors who do not necessarily follow the regular rules and regulations which generally govern business. In other words, the Shanzhai vendors would lose no sleep over making a good knock-off, so its no surprise that they're debuting a Macbook Air clone.
At first glance, the Shanzhai Macbook Air looks like a very precise knock-off. There are some big differences, however, as the Shanzhai Macbook Air is actually more of a netbook. It has an 11.1 inch screen, 1GB of ram, and a 1.6Ghz Intel Atom processor.
It is anyone's guess how this product, which is to be released this month, will stack up to the original. Chances are it will not stack up well. Rumor has it that the retail price will be around $290, however, so it is priced right. As this product is in all likelihood in violation of various copyright laws, no normal vendor will be selling this. The best place to find it will probably be Ebay.