We already know China's government has been ban initial offerings and bitcoin exchanges in since beginning of September this year.
At that time, all bitcoins exchanges in China have problems to continue this business. Some China's Bitcoins holder also divert all its assets to store in abroad exchanges.
Source from
https://cointelegraph.com/news/breaking-china-may-cut-off-cheap-power-to-bitcoin-minersThe statement regarding the cessation of cheap mining electricity indicates that the Sichuan Electric Power Company has issued a circular indicating that it will no longer provide the necessary power from its grid-connected hydropower stations. The circular suggests that Bitcoin mining is illegal operation. The circular has yet to be confirmed.
If this true will be applied then China's is serious to fight this Bitcoins business.
This is one of the reasons why I always maintained a contrary opinion when some people always hold the view that since bitcoin price surge after it crashed because of the two actions of the Chinese government that we can now do without China and that bitcoin has surpassed China but from what we can see here, China is not through with bitcoin.
Whether its speculation or not, its one of the last major card that Chinese government will have to play if all other options to stop bitcoin continues to fail and the moment this is played because of the high importance that mining plays in ensuring that bitcoin runs successfully, its going to deal a great blow on bitcoin but the moment this can be surmounted, we are fully sure of victory from the Chinese.