If you define an arquebus as a hand held firearm that is fired with a trigger, such as a Chinese crossbow, then yes, it was invented in the latter half of the 15th century.

In the early 15th century there is evidence that a "serpentine" lever was added to the "hand cannon". The advantage of the serpentine lever was that you could essentially put the match somewhere close to the touch hole while you were firing, so you don't have to hold the entire match. The oldest depiction of this mechanism is dated to 1411. But this wan't actually a trigger you could squeeze and fire. It was just a match holder. The earliest depiction of a matchlock trigger is dated to 1475.

So it depends on what you would consider to be an arquebus. Terms and definitions are muddled because they were used for what we would consider to be several different things. For example both the "supergun" and "hand cannon" were both called bombards at different times.

If you consider a hand cannon with a match holder to be an arquebus, then it was likely invented in the early 15th century since the earliest depiction we have of this is dated to 1511. If you consider an arquebus to be a hand held firearm that is fired with a trigger, then it was likely invented in the mid to late 15th century since the earliest depiction of such a mechanism dates to 1575.

As far as I am aware, there is no evidence that the Chinese used either the "serpentine" lever or matchlock trigger prior to their introduction in the 16th century. You may have mixed that up with the gunpowder match, otherwise known as the slow match, which Joseph Needham believes to have been used in China since the 10th century.