I don't know how these can be equivalent. The Chinese ones are even supposed to have a 5% tolerance.
- Wil
The smaller Chinese one is a Yageo.
The tolerances only mean that the true values of the resistor will be within plus or minus the coded values.
Both the larger resistor and smaller resistor can have similar characteristics But the test qualifications can be different.
The smaller resistor has an IEC (International Electrotechnical Commission) standard bases on those test set out by the IEC.
The larger resistor has a Mil (Department of Defence) qualification. Which tend to be far more stringent than the IEC. The construction and dimensions will be based on those tests set out by the department of defence. If you want to dive down that rabbit hole, all the power to you.
Body colours of resistors and inductors can be different depending on the manufacturer and series. There is no standard body colour for either. You must read the datatsheet for the component from the manufacturer that produced it.
For general purpose, standard metal film , carbon composite and /or ceramic cement will work just fine in most applications. Check that the voltage rating of the resistor is acceptable for the voltages you will be using. Usually the voltage rating of a resistor should be double the operational voltage. As long as the rated voltage is higher than the applied voltage plus any possible spikes in voltage.
There is no rule, other than space restrictions, that dictates that a higher power resistor can't replace a lower power resistor.
Smaller resistors of the same power rating as larger ones will dissipate heat over a smaller area. So the "Real Feel'' will be hotter on a smaller resistor than an equivalent larger one. This temperature won't effect the resistor in it's self, by may effect components near it. So give small hot resistors they space they need or change it to a larger one.
The main requirements when choosing a resistor is the Value, Power, Voltage, Stability(temperature coefficient) and cost.