Big news from china🔼
https://www.huobi.pro/zh-cn/notice_detail/?id=651. Huobi, one of the biggest crypto exchange in China, will resume its operation at 12:00, 26th, October (China Time)
We are excited to announce that Huobi Pro will support Tether(USDT) trading pairs. USDT deposit and withdrawal is available from 18:00 October 24th,2017(GMT+8). And BTC/USDT and ETH/USDT trading will start at 12:00 October 26th,2017(GMT+8).
Very good news! However I wonder why there is no BTC/CNY? I think they are playing it safe for the moment as PBoC is worried about capital flowing out of the country.
There is no BTC/CNY because nothing has changed about the situation. China-based exchanges are still in wind-down mode if they haven't shut down already. Domestic order book exchanges are prohibited (at least until a licensing regime emerges -- unconfirmed).
The .pro is not based in China. It's a Hong Kong exchange (like Bitfinex is or once was). OKEX (Okcoin's international exchange) and BTCC similarly are Hong Kong companies. They can't easily interface with CNY -- at least not openly and transparently.
That they are accepting USDT means they are pretty desperate for trading fees amidst the crackdown.