I do not think many Chinese back Bitcoin, from what I have picked up, they back LiteCoin more.
Hedging your bets between Yuan and the dollar with Bitcoin, might be a shoort term solution, but in the
bigger picture, it's a fruitless investment. The downward trend for many countries has started and it would only get worst over time. These countries try every trick in the book to stimulate growth and it has to
backfire at some stage in the future. Greece was the indicator for a much bigger problem in the financial markets.