Trademarks: Can I Demand a Domain Name Takedown if Some Chinese Company Uses My Business Name

Let say I've been running vbxdesigns.com since 2012. And today, in 2016, some Chinese company wants to open up a domain called vbxdesigns.cn. Do they have the rights to do this?

I received an email a week ago from a Chinese domain registrar asking if this company is affiliated with me since his clients wants to open a .cn using my business name.

I replied that I am not affiliated with anyone from China and the registrar recommended that the Chinese company go with a different name. Since then, I've been getting an email from this guy from China demanding that I give him permission to use the name.

What do I do? Should I just register the .cn and have it forwarded to my address before he takes it?

Or, do I just sue him once he open up his site. (is this even possible?)

Thanks

Trademarks: Can I Demand a Domain Name Takedown if Some Chinese Company Uses My Business Name