Without a doubt, just non-sense. The fact is you can fly Air China using Asia Miles, and the same trip is only 55K miles because it's "First Class".
https://www.asiamiles.com/am/en/redeem/charts
PEK-SHA-PEK is also flown by China Eastern Airlines (MU) but since the latter classifies their intra-China flights with Business Class cabin, the same route, PEK-SHA-PEK is only 40K miles return with Cathay's Asia Miles. Whether it's 40K or 55K, it's no where near 110K miles that is being asked by Aeroplan.
The Asia Miles chart has been the same for about 7-8 years already, if Air China really has any say on how Cathay or Asia Miles charge their own customers, we are not seeing any evidence here.
Also, the Aeroplan reward chart is not Air China specific. Even a short TPE-HKG-TPE on Eva is now 80K miles in Business class, so why is that the new mileage level is necessarily being dictated by Air China given that there are at least 5~6 carriers impacted in Asia by Aeroplan's reward chart change?
And if Cathay has any say over how AAdvantage runs their FFP, there wouldn't be a 67.5K First Class award North America-Asia today given that the same award using Asia Miles is about the double of AA's yet the flights are exactly the same, including class of service.
I have read quite a bit of non-sense here over the years, this one definitely ranks among the top.