The Chinese government has not banned Bitcoin, so that alone is a step in the right direction. The Chinese exchanges show higher volume
than other countries, but that it driven by the "zero trading fees" that is effective on these exchanges. Most of these mining
operations/pools have reached ROI, or so it seems... very little reliable information is coming from these chaps.
Indeed, Chinese are mostly mining bitcoin. I hope there are active traders there and not are just dumpers. I think the government are now cracking down those miners who are tapping electricity for free.