China can't control bitcoin, it is freely tradable so any people can just buy it.
BTW, I heard that CIA or FBI has a big chunk of it, as they are kinda involved in the beginning... which is scary.
You must not follow the news on coindesk or some other sources of bitcoin news. China is holding more than 50% of the mining pool, as well as the amount of Bitcoin in the world. In general, they are controlling Bitcoin, and the most dangerous thing is that they can open a 51 attack any time they want.
And free tradeable doesn't mean a total anarchy, each one by himself.
If a group of people wish to create a fellowship and start acting together to make profit, they will, the free tradeable allows it and the smart guys do it. Conquer together to rule more! In this world what really matter is the profit, and the most powerful guys will try it at all costs...