FIRE in China? Possible?

Question: Can I FIRE by age 45? 10 years from now?
M (35)
F (34)
Married.

Currently living in China. I'm an expat, wife is Chinese.

INcome:
Me: yearly income, 500,000 RMB or last time I checked, ~70,000 USD.

Wife: 240,000 RMB or ~33,000 USD.

Savings: ~850,000 RMB or ~ 120K USD.

Assets:
~1.6 million RMB house. Fully paid off.

Expense:
This is the part where cost of living really comes into play. Cost of living where I live is very low; I've kept track and my wife and I spend <RMB 10,000 per month. So, We're saving ~400,000 RMB or ~50,000 USd after expenses.

Again, we're saving 50K to 60K USD per year. My budget app confirms it.

Is my calculation of FIRE at 45 realistic? Anything else I'm missing?

Edited for clarity: The 1.6 million house is in RMB, so ~220,000 USD. Not having kids, wife is on board and I had a vasectomy last year.