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.
That will work promptly for the future and at anytime because centralised systems are always perfect. As they form the part of regulations there is trust and surety of everything. The funds are faster because in the long term their systems would have evolved to higher dimension. As in case of bitcoin we are developing but the field is still new and there is no way one can stop it. Its just matter of time when centralised procedures will also take the leap and who knows at that time China will jump in again and will start growing the P2P platform for their sake.
In case of government controlling the money, they will also have chance to do so with decentralised platform by implementing partial regulations. Well, if government took that seriously then we can think about that.