It's kinda difficult to figure out whether China has actually shut down 100 exchanges. We have to believe some lousy news portals reporting the matter. Moreover, the media tends to exaggerate figures to make them stand out more. It would not come as a surprise to me if the Chinese government shut down a few local exchanges but the number has been bumped by news portals to 100 for juicier click bait content.
They're shutting down tiny exchanges
like BISS with its 10 employees. Considering they are targeting such little fish, the numbers don't surprise me. All the big exchanges voluntarily obeyed the ban and left the country in 2017. Now the government appears to be enforcing the ban against all the little guys.
Supposedly,
the exact number was 173.