China has to accept that you simply can't prevent people from investing in Bitcoin. One way or another, there will always be a way for people to trade Bitcoin, even when it's not as convenient as trading on an exchange. I seriously hope that decentralized exchanges will become the norm in the coming years, because people for once need to understand how annoying and unworkable centralized exchanges are getting due to all the regulations. I have taken a look into some of the more popular decentralized exchanges, but it's still more or less a hassle and time consuming practice to settle trades. I hope that atomic swaps will be able to bring the necessary convenience people need in order to take decentralized exchanges more serious.
For that we would first need LN activated in Bitcoin because it still remains the number 1 cryptocurrency, the king of coins. Decentralized exchanges would be annoying unless you can make instant trades. But instant trades aren't possible without instant transactions. That should be abundantly clear. Once these are implemented via LN or otherwise along with atomic swaps, decentralized exchanges will be a preferred way of trading because there will no more front-running, artificial delays, and a lot of other unfair tricks which centralized exchanges are so famous of.