For the Chinese economy, maybe yes but certainly not for crypto and as I remember crypto users from china are not too large and even for exchanges more from eu and us than china it's just that this might have a "dumping" effect because i think some of the citizens whose cities are exposed to corona will sell assets to survive.
I think the corona virus will affect the crypto usage of china and also the launch of their virtual yuan. It will affect the crypto activities of china because I think they will focuse more on the corona virus issue now. As I heard from the news their are a lot of people in china that is affected by the corona virus and still in quarantine to avoid spreading of the virus.