That news new for me, unfortunately I was not aware about that China is going to launch their own official crypto-currency. Just read a
tweet on cnLedger that China speeding up research about thier own official crypto-currency. However, I think it will be another strong altcoin if really China like to launch their official crypto-currency.
I don't know where they are getting their inspiration from creating their own when they are banning Bitcoin, if you want to get support, first you need to support Bitcoin because this is the frontrunner of Cryptocurrency, not create your own coin to beat or replace Bitcoin.