Hello and welcome to the forum.

What you've got is indeed a coin, and is indeed from China. If you were wondering "which way is up", rotate the left-side picture 90 degrees anticlockwise, and the right-side picture 90 degrees clockwise.
Round coins with square holes in them were made in China for over 2000 years, up until shortly after the fall of the Empire in 1911. China's neighbours (Japan, Korea and Vietnam) all issued similar coins as well. These coins are collectively known by various names; the most common English name for them is "cash".
This coin dates from the reign of the Qian Long emperor (AD 1733-1796). The obverse (left-side picture) says "Qian Long tong bao", meaning "currency of the Qian Long emperor". On the other side is the mintmark, written in Manchu rather than Chinese. In this case, the mint-name is that of Yunnan Province, in the country's south.
Because this emperor reigned for such a long time during a time when China was peaceful and prosperous, these coins are very common; Qian Long coins from the central mint in Beijing are probably the most abundant coins on the planet. So they're not particularly valuable, despite being so old.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis