I don't think so. When we saw the China ban on ICOs and the suspension of exchanges, we had a major drop in bitcoin and then it recovered but I don't think they were the ones buying it. I actually think that we only saw the Chinese citizens swapping from Chinese exchanges to Japanese ones. So most of the bitcoins probably stayed in the same hands. I don't think the Chinese government likes to speculate, and although I like bitcoin, and I hope they will have a future, in the end that's what I doing. I'm speculating, even though I hold more than what I trade, but it's still speculation.

Their ban was real, and they might accept them again so they can try to "control" them, and at least get some taxes out of it, but I don't think they like them, and that they are buying them for profit. They really want them to fail.