From what I know, masters are sculpted in Russia and painted there. Please note that you can also commission any sculpter in the us, uk or Russia to sculpt a figure for you. Production figures are cast and painted in various factories in China. If you are very attentive you will see some variation in the way fl figures are painted between for example the French line infantry and the old guard figures showing that all fl figures are not produced by the same factories. The best paint job I prefer in fl figures is the one done on the old guard guys... Superb !
Cheers
Alex