RE: How big is this China news, really?
To me it doesn't look like this is going to be a permanent thing honestly.
Today I came across a great article that goes into detail about NEO's parent company OnChain and what they have been doing under the radar. As you probably know, NEO was hit hard because of the ICO ban, seeing as many people saw value in it because it was an ICO platform.
After reading the article, and seeing how many things are going on under the radar, I am strengthened in my belief that not only will this China FUD be temporary, but NEO is very likely to come out on top from all of this. OnChain is developing a blockchain for a Chinese province government as we speak according to the article. If that doesn't say something.. Seriously, go have a look. It may be NEO and OnChain specific but it does put things into a certain perspective. I would say there are good odds that NEO is going to end up being one of the few authorized ICO platforms, perhaps even getting exclusive rights, as is not uncommon in China. So I definitely think there is a good chance this situation is only temporary.