This is pretty much the whole story right here...
" NIFA official Li Lihui told a technology conference in Shanghai on Friday that a goal of Chinas monetary regulation is to ensure that the source and destination of every piece of money can be tracked. "
Bitcoin is the mortal enemy of '
tracking'. Therefore China is going to continue to assault Bitcoin from every angle. You can be sure of that.
I don't think China hates bitcoin. I know there are a lot of currency investors in China, they are like bitcoin, but their government has carried on the strict regulation to the bitcoin, China's domestic exchanges are closed, but that has not stopped them to buy the bitcoin