You are getting this wrong, don't say Bitcoin is not useful to the Chinese government, what is good for citizens should also be good for a sane government, but they force restrictions on the citizen. If the Chinese government could lift the ban on crypto today, I can assure you that over 35% of their citizens would adopt it within a year. This is deprivation, and it is making them lose the benefits associated with crypto.

Mind you, because the Chinese government doesn't allow it does not exonerate them from not losing, the losses might be little to them, yet they miss that additional income and benefits which they are only overlooking. Let them continue in their folly, who cares! BTC will survive without them.