Let's not all freak out just yet. People will find ways around this, including the VPNs and TOR. If those are blocked, I'm sure a lot of bitcoin users will simply move if they have to and still value bitcoin. I'm not entirely sure why China is cracking down on bitcoin so hard- anyone?
When I think about it, I am not so sure if it would be so easy for the people to move.
China wants to keep the money in China. I doupt they will let their citizens leave on a larger scale and let them take their money/bitcoins with them.
The government there has blocked the transactions between the lokal currency and the crypto currencies. In case the people would want to leave, I think they woud get blocked as well.
Regarding the VPNs: China will ban them in 2018. I have already read articles about that.