By looking at the decentralized system in bitcoin, I think anyone who holds the majority of bitcoins can move the movement of bitcoins easily. I think China has had an influence on the development of bitcoin but not absolutely.
Bitcoin is it a decentralized system and i think it will be hard to control the movement of bitcoin that easy. Unless you got 80% bitcoin at the market that might be a different story of course. Still i think China had a big influence on the development on bitcoin as they are the big boy at mining bitcoin overall. At the future if China really does control at bitcoin i would definitely will off from bitcoin territory.