Bingo. All the arguments over what a document does and does not say are kind of irrelevant... you know how people complain about the US having "secret laws"? Many developing nations have it far worse; what actually happens has little or nothing to do with what the law and regulations say on paper.

If a medium/large company were to accept bitcoins as payment in China, the Government would use extra-judicial force to take the company down. This is business as usual.