I believe China doesn't hate bitcoin. China might hate the fact that it's untraceable, and with the problems that rised with the ICO's where many investors were scammed, and lost money, they couldn't do anything to retrieve that. It's a risky market, some will opt out of it, some will just act that they will opt out, and others will continue following bitcoin!
China have a communist government, so they want to take control all the aspect of economical state inside their country. And we all know that Bitcoin is a form of crypto-currency which is likely to happened to be a unreachable, uncontrollable form of currecny. Meaning that the government or their government will no longer have a control on investments , property and transaction of their people.
i think it's not just communist countries that want to control all the financial activities of their country but all countries also want to do that, but bitcoin offers a different thing where everyone is free to do anything and control their own money without any intervention from anyone including government and that's why many countries do not like bitcoin, not just china only,,