The QBZ-95 meant Light Rifles family, 1995 in Chinese. It is a bullpup rifle (magazine behind trigger) that uses a 5.8x42mm. During development, the Chinese tested both the 5.8x45mm and the 5.56mm in a variety of terrains like snow, march, desert, etc. The Chinese claim that the 5.8x45mm turned out to be not only superior to the 5.56mm but also more survivable in a variety of conditions.
To compare with the AK-47, the QBZ-95 is lighter so the soldier does not have to worry as he already carries alot of heavy equipment. It is smaller so it is easier to maneuver around corners in urban combat and when a soldier is in an armored vehicle, he does not need to worry about his rifle getting in the way as the inside of an armored vehicle has small space. It is more accurate unlike the AK-47 that has good firepower but lack of accuracy due to it's high caliber 7.62mm round. The QBZ-95's smaller 5.8mm round is able to provide more accuracy which could make the difference between life and death. Unlike the AK-47, the QBZ-95 rifle has alot less recoil which contributes alot towards accuracy.
The QBZ-95 has other variants like the QBZ-97 which uses the 5.56mm NATO round and the STANAG magazines. The QBZ-95 rifle's safety switch is located by the buttstock which is considered awkward and longer to switch. The QBZ-95G rifle solved that problem by having the switch by the trigger. There are also other variants like Light Machine Gun or Carbine version. The rifle was a spinoff to the QBU-88 Sniper/Marksman Rifle.
The QBZ-95 rifle can also attach a scope on top of the handle and can also attach a grenade launcher. The cocking switch is located on the top middle of the rifle under the handle which is designed for both left and right handed soldiers. The rifle is also featured in video games and films like Soldier Sortie, Modern Warfare 3, Battlefield 2, Operation Flashpoint-Dragon Rising/Red River and Glorious Mission.
On the progress to replace all the AK rifles in the PLA, the rifle is set to have a bright future with the PLA and the Chinese Police Force like the Beijing SWAT.