1,2. See here:
https://zh.wikipedia.org/zh-hk/%E6%B3%B5%E5%8B%95%E5%BC%8F
3. Unlikely.
Strictly speaking, MM2H is not a formal migration program, but instead an extremely long-term tourist visa program. Because MM2H does not create a path to permanent residence or citizenship, it is expected that people under MM2H will be heavily restricted in acts which are generally allowed to permanent residents and/or citizens.
4. Yes if allowed.