I believed that China has been in the alt market already. And even we are in the bear market, they still prefer alt coins because it's pretty much the back bone of most Chinese whales. So there is a chance that Chinese will start to pour money again once we are in a bull run.

But to say that they are going to start it, I doubt it, they will still wait for any news like ETH 2.0 and see how it goes before they start to invest more in alt market, in my opinion.