so lets try and game theory this a bit more as to why this buying is occurring.
options:
1. chinese are buying btc's so they can move their yuan out of china into a different fiat currency.
Yep, I believe there are controls in China/HK where you can only move $5,000 per day out of the country without a bunch of paperwork and business invoices. India is the same, btcindia.com would also be a major exchange should it ever be created
2 weeks ago you could have moved small amounts of bitcoin from China internationally and actually make a profit- but the current price on btc China makes it uneconomical to do this.
If you want to move substantial amounts of money out of China based on the current market depth it would just be cheaper to get all the relevant paperwork (or find a loan shark living in the country you want to move the money to).
The sudden increase in interest in China is absolutely about Bitcoin as an investment.