[jackgavigan]

You're missing the point.

China has implemented capital controls to prevent individuals from moving large amounts of wealth out of China. See http://www.globalpost.com/dispatch/news/regions/asia-pacific... for some background (or just do a Google search for china capital controls).

A Chinese citizen could conceivably bypass those controls by (1) depositing renminbi (i.e. CNY) into a BitChina account, (2) buying bitcoins, (3) transfering them to a non-Chinese exchange (e.g. MtGox, BTC-e, BitStamp), where they (4) sell them for USD.

[kolev]

This is true, but both BTCChina and OKCoin have no option, but to start working with the Chinese government (BTCChina already started) and will provide control mechanisms, which isn't necessarily a bad news for Bitcoin as people try to present it. Also, due to major mining operations happening in China, there's inflow of capital to China, so, I don't think the government will have a problem with that.