It is bound to happen. However I think it will be a different crytpo than the ones we know, being that at the end of the day it is still backed by a central bank with no gold reserves and so therefore is fiat. Naturally it will be pegged to RMB (Chinese currency). Yes they will obviously save money. For me though, it's just a gimmick. The Chinese will flock to BTC in droves once they realize this technology is trustworthy enough for even the authorities to deal with. Some may argue this is already happening as well.