is there any possibilities that the china embassy well deny my visa application?

Perhaps, bbecause Consular officials reserve the right to decline a visa application or even revoke an issued visa. On one here can ensure you with it.

OK...thank you for that my other question is his passport and his visa will expire this October can we still use it?....because the agency require as his visa and passport and since it well expire this October his quite confuse if the agency well accept still his requirements or he should renew the passport an visa?..but if he will do that it will take time before he can get his renew passport and the visa..so what do we do now?.....And the official receipt or (OR) of the bank statement really needed ?..since its one of the requirements given in the agency to us but the bank did not issue him (OR) or official receipt instead they just put a stamp of his bank statement....is it OK or what?..or he really need to get a OR..we don't have really any idea about this...thank you

How long are you going to stay in China? your boyfriend's expiring passport may be a problem. So, just follow the agency. I am sure that they are more professional on this visa issue than strangers here. Believe me to be well prepared all documents since China visa policy is getting tough towards Philippines. Best wishes.
Ella