Well no it not controls bitcoin, but many miners are from China, i don't know now wheret to find that links to show which countries mine bitcoin but as i know China have over 50% last year.
You are right that a lot of developed countries in China come from most of our country from China but China can never control bitcoin. Nobody has the power to regulate Bitcoin it depends on the market and costs are on the upswing China features a good share of mining but now the economic situation in China is far worse.