The Chinese are good at copying what is successful and the Chinese government noticed this nipping it in the bud before it all got out of hand. The government isn't there to stifle innovation but to protect the future of the market from scammy projects. It is there als to protect the Chinese people because an uprising as a result of these ICO is a major headache for the government. See my post also, if you are interested. https://steemit.com/ico/@marcusxman/china-wants-to-ban-icos