I read online that university of tasmania, Australia has an EMBA program in Shanghai, and can get an Australian green card after finishing it. I wonder if it is reliable?

You are talking about 190/489 state-funded skilled immigrants. It's possible. The key is to see what your EOI score is. University of tasmania is the only university in Tasmania. If you have a degree from university of tasmania, you will almost certainly get a guarantee from the Tasmanian government. However, security alone is not enough. It depends on your EOI score. If the score is 65 (including state insurance plus points), you can go. To put it simply, under 45 years old, with more than 8 years nomination experience, IELTS four sixes, plus university of tasmania Master, 190 is possible, and 489 is basically no problem.