There are multiple indicators that must be taken into account:
- mining: here China is definitively the top player, due to low electricity costs
- exchanges: as gentlemand already said, the widespread opinion that "Chinese exchanges are dominant" was falsified when they were forced to introduce fees. They're still a major player in this field, but have not really more market share than their share of world population.
- nodes / usage: Bitnodes says there are about ~560 Chinese nodes (~6% of all). That is #4 in the world. Smaller countries like the US, Germany and France have significantly more nodes. Again here: they have approximately the share one would expect for such a large country with a slightly sub-average GDP per capita.
- development: here Chinese developers, as far as I know, have a sub-average participation.

So my conclusion is that only in mining Chinese businesses are dominant. As mining is an important factor for Bitcoin's security, I would definitively consider it a major "crypto power", but in most aspects it's not dominant at all. It's simply a large country with low electricity costs.


That would be interesting. Can you point me to sources?