I watched a video today:
https://m.youtube.com/watch?v=WWY7A221hwAChina is leapfrogging credit cards to jump directly into the adoption of mobile payments. An oligopoly is in place and as the adoption of the tech rises fast, it's not set to change. Now the Communist government is seeking to control such payments even more and the biggest payment companies are likely to cooperate. Perhaps one day people there would appreciate decentralization but for now the majority of the Chinese seem really careless about p2p tech and payments.
Cashless transactions using fiat money over internet is not safe.Thats why the bitcoin was created so they have to understand the importance of cryotocurrencies.But China government doesn't want to make room for cryotocurrencies I don't know what is the main reason for oppposing decentralized economy in their country.