Legally a Chinese citizen can only move up to $50k USD out of China per year (and they have to report those expenses) [1]. There are various techniques wealthy Chinese use to get around this but BTC had the ability to be the one of the easiest and least-traceable. Not everything traces back to BTC but it is a telling sign of a larger trend.
As someone who has lived in China I can testify that this is a falsehood.
The issue is getting the money out of the bank into some other asset in the first place. If you have that much purchasing power in a Chinese BTC exchange you probably already have a number of other means by which you can extract your money.
The hard part isn't what to do with your money -- it's what to do with your money to get it out of the bank and get it into another asset.
AFAIK it is not trivial to purchase that much BTC in China, so the level of attractiveness isn't as you assume.
So the Chinese students running around in $80000 luxury cars are all beneficiaries of criminal parents. Funny how the party doesn't crack down on such blatant corruption.
1. https://www.inman.com/2017/01/03/new-rule-china-may-affect-o...