Ministry of Finance has the final authority for money and financial matters. Have a look at USA China trade war where Donald Trump has put $150 billion tariffs on Chinese imports.
Looks like China is the next to ban Bitcoin
China banned ICO and digital cryptocurrency transactions in September 2017!
The blockchain and digital cryptographic currency are the wave of technology, and no country is willing to fall behind in such a technology race. Perhaps China is the country that reopened the ico.