So basically, reading between the lines as a long term China resident and also the first employee of a major US cryptocurrency exchange, the Chinese government'

So basically, reading between the lines as a long term China resident and also the first employee of a major US cryptocurrency exchange, the Chinese government's 人民银行 (renminyinhang; People's Bank) has met with domestic exchanges and requested immediate additional processes on withdrawls. These probably include government reporting and/or blacklist processing. Since US exchanges are already subject to AML/KYC processes, this merely brings Chinese exchanges roughly in line with their US counterparts. I can see nothing to imply any additional restrictions so far. Zooming out a little, there is good reason to believe that the Chinese government is less afraid of Bitcoin than the US, because Chinese mobile payment penetration through wholly owned systems (mostly WeChat) is already near 100%. Domestic transactions are therefore pretty much safe from Bitcoin... which offers slower settlement with more hassle on a much smaller range of goods and services. Also, relative to the US, taxation is very low and easily calculable across all of China (regardless of product type, buyer and seller location) so the appeal of Bitcoin for shortcutting that overhead is not present, as it is within the US with its famously antiquated multi-state tax nexus conundrums.