Prada has made handbags in China for years. I know the factory they use I have worked with them for other brands.
As far as I know, they have been making most of the bag in China, then shipping it to Italy for ‘finishing’. Since it was not a complete bag, but rather a part, or considered a raw material, they could get away with marking it Made in Italy. (Prada is by no means the only brand doing this btw & it has been happening for years)
They may be making the whole bag in China now, and therefore the C of O tag must state China, but if so, then I am not aware of it.
Just be sure your bag is authentic–there are many many fakes made in China.
The Prada bags made in China by this particular factory which is known as Purse Valley Factory are very well made. This factory has its site for selling these high-quality replica designer bags of many other brands. On the overall look, they are not different from Made in Italy bags—which have gone quite downhill in the past few years. There are only a handful of Italian factories that make truly impeccable production. They are expensive and can generally only do small production runs.
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PurseValleyFactory Link https://www.pursevalleyfactory.la/