only if the CHINESE GOVERNMENT control a majority of the BTC they dont how can they unless individual private citizens hand their keys over but since the two reasons that chinese citizens have BTC are1. to make a profit
2. to be free of government control (W e can deduce this from the amounts being used to transfer out of the country There was some excellent work done in late 2017 on tracing transactions down the open ledger out of china and into other countries
why would they? I have since lost the reference and am not prepared to do the time following it.
Just look at the way the Chinese government freaked out during 2016/2017 when they found out what was going on.
They back flipped and allowed the use of BTC for purchases as I suspect it is the only way they could see a glimpse of what is going on
