In fact, your point of view is incorrect. China’s civil law always regards Bitcoin as a kind of virtual property.
In addition, your translation is very bad,In this case, the Chinese Court thinks like this，I tried to translate the original words of the court:

In fact, on October 1, 2017, China’s civil law officially incorporated online virtual property into the protection of the law.
General Rules of the Civil Law of the People's Republic of China


I once again stressed that China only banned ICO, but for Bitcoin, Ethereum and other cryptocurrencies are still belongs to the property of the Chinese Civil Law and is protected by law.
The correct statement is that China has banned ICO but not crypto.


Bitcoin is a virtual property that is part of private property for any country that recognizes virtual property.
It includes most countries such as China, the United States, and Japan.
However, some countries in Europe do not seem to recognize virtual property. such as Germany’s law states that “property must be physically present”.
If I am wrong, please correct me.

This is great news! If the Chinese authorities openly declare that Bitcoin is privately owned, then this directly indicates that at the moment Bitcoin is already an independent currency! Why is it privately owned? Hmm, maybe from the fact that it is obtained by mining?

First of all, International Arbitration Courts are a part of International Chamber of commerce and it doesn't have the power to force a country to comply with their statements. These courts are mainly used to resolve border and international trade related disputes but it entirely depends on a country whether to comply with it or not!! Also possession of crypto is not a crime in china, so the verdict doesn't add up any value to the existing legislation.

The important question here is, whether cryptos can be classified as a property or not!!! I am strongly against this idea of classifying cryptos as a property. Bitcoin is one of a kind currency which doesn't really fall under any existing category!

There are several countries classified bitcoin in 4 broad categories as below,

1. Property
2. Commodity
3. Security
4. Private money/ value transfer tool

However, I strongly believe that bitcoin can't be classified in any existing category because of its nature and structure. It needs to be classified in some different category.

A lot of brainstorming will be needed to correctly classify it, but its definitely not a property! Probably going back to Satoshi's vision will help us to derive something, but definitely not a property!

We've known this previously.

There was at no stage a ban on bitcoin as something that you are able to hold. The bans came in the form of bitcoin exchanges and also investments relating to bitcoin, but China seems to still hold a neutral stance when it comes to ownership alone.

I doubt that this will be able to affect the bitcoin sphere that much, partially due to the fact that China's influence on bitcoin has already diminished thus far. But it is a good clarification for all the bitcoin holders within China, and good to see that the government isn't going overboard and attempt a futile attempt at banning everything.

Exactly, media really made it bad by portraying bitcoin is totally ban in China where in fact what PBoC did was to clamp down on all crypto trading with a ban of foreign exchanges and ICO offerings. We can even says that trading is still alive in China by going full OTC or by just going to HongKong to continue their activity. But the damage has been done already, although their sphere of influence is still felt because they have total monopoly of mining. To the OP, regarding you question about Bitcoin's related private property, here is a good discussion thread: Are Bitcoin private property.

In terms of price action, I think that we are seeing now that it didn't affect the price of Bitcoin at all. This is good news but it didn't get too much hype in the mass media streams that is why it didn't trigger any FOMO. But legally speaking this court ruling will give precedent in future cases issued to their judicial department as earlier BTC has been identified as personal property which is good as they gave it a classification in their country. A lot of people outside of China still thinks that BTC is illegal in their country, I just hope this court ruling will help change a lot of misunderstandings in the future as bad news from China is what really is affecting the prices right now.

It's not as bad as it looks nowadays. China's economic dominance in the mining industry is shrinking day by day with how miners are heading out before they are forced to head out or to stop mining entirely.

It's impossible to know how much of Bitcoin's current hashrate is still coming from China, but it wouldn't surprise me if it's around or even less than 50%. Scandinavian countries are quickly catching up.

People wrongly assume that pools are one entity, which isn't the case at all. Most of the pools you see consist of individual miners for the most part, and these miners can point their hashrate to any other pool if they so wish.

But come to think of it, bitcoin is suppose to be an independent and private asset that an individual can decide to hold or not to hold  rather than these bid to try and regulate what is going on with it. China can decide to keep being hostile to the detriment of her citizen but I guess they are opening up gradually again.