I don't know, but I doubt the type 03 can do any better than a type 87.
The only thing I can think of as a disadvantage to the type 87 is probably its weight, and its muzzle. (The type 87 had a higher weight than the type 81 I think. But the type 81 and AK-47 are both very light guns from what I've read.) The 03's muzzle have some sort of flash hider or something along the line, but I don't know what is there on the 87/81's muzzle.
But the 81 is a good gun though. I would issue it to my troops if I had an army.
But does anyone have the full specs on range?