I was heard the news that's China has planning to be launching their bitcoin and their blockchain, but as we can see China are the mostly country that's affected by CORONA... So it is possible for them to launch their bitcoin at the moment?
First of all, China is not the most affected country anymore. Their number of active case is quite low, the death toll is lower than in Italy, the country seems to have been successful at combating the virus spread, and while almost everywhere things are getting worse and more strict measures are being introduced, China is actually gradually returning to normal life.
As for new crypto, it definitely won't be like Bitcoin if they decide to pursue the project, as I am sure it would be a centralized and highly regulated, most likely not pseudonymous digital currency. There have been rumors about it for a while, but so far there's no conclusive evidence on this matter.