We do not them to accept ICOs, but to allow free crypto trading!
We talk about China here. I think that you ask too much if you want 100% free trading.
They will manipulate the markets as much as possible. The ICO compliance is only one "public" reason shown to the western customers. They'll follow their internal agenda and when the things add up nicely, they'll allow the trade in the terms they want it.
China has always been known to be a manipulative government, even their internet has so much regulation and a lot of sites are banned. This doesn't only go with crypto-related stuff but with matters that are not within their control. Perhaps they have declared this to ease some of the cryptousers in their country because there is a huge volume of such. But if things were to go their way, they would ban at utmost anything that is not within their control of unfamiliar to them. I have nothing against China, but that's how their government works.
The first step have been done like the recent crackdowns of cryptocurrency exchanges, restricting their people from investing in any foreign exchanges and the banning of ICOs. These moves by China are part of their plans to eliminate any crypto ventures that are not under their total control. The next step is to allow ICOs that are tailor-fit to their manipulative process of regulating any kind of business.
