I am hearing this kind of news from china since 2016 when i involved with crypto. China always try to create fud. I don't know what's they're gaining by doing this everytime. But the good news is their news are not effecting market like before.
There are many factors now that affect the market, unlike before before 2017 hype wherein every news of banning, restricting from many countries especially in China affects the market. Every news before makes the market to hype or dump. Now, many were disciplined enough to wait and trust the market. There are also organizations and big companies who involves in the market now,Maybe Chinese people already have their own way to do crypto despite the change of mind in banning and accepting of their country. We can just take every banning they do to buy at dip.