At first, I'm thanking all the panicked chickens for cheap bitcoins. More newcomers have got their BTC at amazing price today.
Now, calm down and relax. Bitcoin is not banned in China.
Chinese central bank has only clarified that financial institutions (banks) cannot use bitcoins as mean of payment and It's pretty normal as they have CNY currency as legal tender.
People are free to trade Bitcoin even as China refrains from recognizing it as a currency in the short term, PBOC’s Deputy Governor Yi Gang was cited by the 21st Century Business Herald as saying last month.
Source:
http://www.bloomberg.com/news/2013-12-05/china-s-pboc-bans-financial-companies-from-bitcoin-transactions.html
