I think for the Chinese, there has to be some underlying reason as to why they would want to create news that would directly affect the price of btc. Otherwise, they would have just had quiet backroom meetings with the exchanges to see if they were compliant with regulations. The Chinese government can easily decide whether or not news can be released by news organizations and even the exchanges themselves. But they didn't stop that news from getting out. They allowed that news to be released and it has been the case for years that the Chinese government can easily influence the price of bitcoin, for good and bad, solely on news of them taking action. They knew it would negatively affect the price and create panic in the market.
I've heard many cases of people creating bad news and panic to shake weak hands of a coin when it is low. Some people have stated that you can't control btc because it is decentralized. But, if you can create panic and buy more and more each time you do that, you create a market where you can always hold the majority. So now you have a coin that is majority mined in China and a Chinese government that can influence the market to the point where they can always buy low and sell high.
Or maybe I'm reading the whole thing wrong.