I don't know what they are trying to do on Huobi, but clearly as more as Huobi gets disconnected, more money they burn, when they lose fuel, price will have downward slingshot effect, it's exchange rate will actually be below other exchanges. Just remember what happened to Mt.Gox, trading at $1200, other exchanges at $800-$900 and then trading at $10-80 while other exchanges were at $600, I would call this the ponzi pattern.
Unless these people want the money to go out of China asap. Buy in Chinese exchange, and sell it on a western exchange. Would also explain the premium.
Or Ponzi suckers buy at Chinese exchange, Ponzi operating basterds sell on BTC-e.