Huobi is banned in China. No exchange of BTC / CNY Legal Tender (bank wire, third party payment etc) is allowed to operate in China.
The current running exchanges e.g. okcoin, huobi, btcchina etc are all going to close down this month before the final limit date given by the government.
Those Chinese exchanges can register abroad e.g. in Hongkong, Singapore, Japan, Virgin Islands or whatever low tax lite regulation countries, and running with BTC / NON-CNY currency pair. the case in the post "Big News From China", huobi.com registered abroad with a new domain huobi.pro, running with btc / usd tether to bypass China gov's ban. it has nothing to do with China.
Will it work? may be, may be not. For how long is a question.
usd tether is just like btc-e code or Liberty Reserve waiting to be cracked down by the US Authority.
The whole fake foreign but real Chinese companies like huobi.pro or okcoin.com etc are all operating in China, maybe even by the same group of people in the same office and the same room. China gov surely can raid them over night.
US gov already showed us this with btc-e, which its even worse that they hunted the russian admin down in Greece. compare to this, China has prefect authority.
In conclusion, exchange of bitcoin or any crypto for fiat or reverse is banned in China. stop spreading false information.
I am surprise such news come out before 19th National Congress of the Communist Party of China ends. Might be totally invalid announcement. We need to understand what this congress is. It happens only every 5 years and on congress Communist party put out plan for next decades. Usually they also announce who will be China president 5 years from now. So whatever happen before the end of congress is just nonsense. Same all what happened before congress. Basically they just told them that there will be a regulations, what everyone knew will be in every single country that exist on the Earth.