Look at it from the Chinese perspective .... They like to be in full control. {Just use the internet firewall as a example} Here we have a technology that offer them a option to
eliminate the anonymity of cash and give them more control to follow every transaction made with whatever token they choose. This is more or less what Alt coins like Ripple are
offering the US government. You as a individual still have the option to use Bitcoin to circumvent these invasive controls.

Yes, bitcoin can track every transaction, but bitcoin is anonymous, registered domain name in China to the real name information, I do not think the Chinese government will make it anonymous