Guys - exchanges are not banned in China. There's Huobi which is still open. What has stopped is btc-yuan exchangING. Crypto-crypto trading is still allowed in China. Also, obviously because China mines most of the bitcoin, they must be able to get it to exchanges somehow.
The only exchanges that are open are domestic only p2p. This means that millions of chinese bitcoins are not appearing on the international exchanges wherein the price of bitcoin is determined. This causes a lack of supply on global exchanges and the price on such exchanges keeps going up.