China was initially against cryptocurrencies, and that fact that it almost banned crypto-mining should further prove the conservative attitude. However, the impending launch of Facebook's Libra has somehow altered China's adversity toward digital currencies, as the country is now preparing to launch a digital coin backed by the national Yuan.
https://www.notebookcheck.net/China-to-soon-launch-its-own-digital-currency.434913.0.html