China is an authoritarian regime! Let's not forget that! They will always have an interest to put everything under their control if possible.
With Bitcoin that is not possible.We all know this. Even if they ban Bitcoin and cryptos. And I still doubt we will see an official ban of Bitcoin in China. Highly regulated, centralized controlled exchanges is my guess what's going to happen. Some sort of chinese Bit License if you want to call it like that. And maybe some sort of CNYT (pure speculation from my side) with a limited amount for the people they can buy and trade cryptos with. It's all about capital control.

And even if they ban cryptos, there will be ways for people buying and trading it. China should know how lucatrive this is new technology and I'm pretty sure they wanna continue participating in it instead of cutting themselves off and seeing others thrive.