China has banned many websites, but this does not affect Chinese investors' investment because there is a VPN that can access the Internet.
Yes some people will use VPN but not everyone knows or understand VPN. Definitely it will stop some people investing in crypto. Also China has a very strict government not all people in China are willing to disobey their government. Many people will not risk of getting caught. I hope China reconsider its decision and just come up with some regulation about the crypto market.