When examining the goals and consequences of any government's engagement in such technology, skepticism is a legitimate stance. It is also critical to avoid drawing broad generalizations or issuing judgements without strong data or a thorough comprehension of the situation. We may obtain a more comprehensive view of China's participation with blockchain and web3 technologies, as well as the consequences for diverse industries, by avoiding generalizations and conclusions without strong data.
I understand people would be careful about it, after all they have been known to be against it, so when they act anything that looks like it would be a good thing, people have the right to be skeptic about it and wouldn't be really unwise decision to be like that.
I am not entirely sure if they support it or not, I wouldn't say it is "fake" but more like there must be something they are getting out of this and that's why they are doing it, and I believe that we could end up with something much better if we are careful and should be doing so. I know that a lot of people will focus on the part where it says a good thing, and they will get hopeful about it, but as we can see from the market, not a lot, just a bit of people and the price didn't responded to it.