The reason why China is looking to ban concurrency is because

  1. It is a direct threat to the Chinese Yuan. It is no secret that that the Chinese government sets the value of their currency. They purposely lower the yuan because it attracts foreign investors to use Chinese labor to manufacturer global goods. Money manipulation gave rise to their rapid growth and success .

  2. Cryptocurrency undermines government and government power is absolute in China.

Didn't know point 1, but makes perfect sense.

The transaction bitcoin hangs a month in the network. Tell me what to do?

excuse me!!
I think u left out 'Not' . Check out your comment.

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