This has to be expected, those greedy Chinese should have smell it from afar that the government is really clamping everything that has bitcoin sign all over it. One thing that I'm seeing is that if they are really banning it, the price will be severely affected, just like when they banned ICO and closes their local trading platform.
I think they're making a critical mistake by pulling this off, they already pulled of something similar back in september and that only caused a temporary price decrease. If China wants to get rid of all the bitcoin miners and mining companies in China they will move elsewhere it's that simple.