The Chinese men has banned ICOs because many ICOs have scammed people recently. ICOs just raise the fund and scam people and run away.
Its a good attempt by them. This doesn't mean there wont be ICOs. There will be ICOs coming but the number of ICOs would be less. If there won't be any ICOs then how would a coin enter the crypto market. I guess there would be some rules for them to be followed in the upcoming days. The number of ICOs will decrease now. The less ICOs the less chances of people being scammed.