The most common and most likely answer to this crossword clue is the 4 plus 4 letter word FENG SHUI
I've seen this crossword clue in The Daily Telegraph
F
E
N
G
S
H
U
I
More clues leading to the result FENG SHUI
- Iron is hung all over the place in a Chinese system
- Arrangement for improved energy supply
- Fine hugs represented Chinese values
- Domestic arrangement could be snug if he cleaned up
- Chinese system that could involve fine hugs
- This does set out fine house design!
- Art of Chinese engineer; quiet, upper- class entering Grand Prix
Buddy explains!

The straight part
We know that "Chinese values" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case chinese values = feng shui.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.