We already reported this thing on our blog! There is every chance that this ban is only temporary and over next few months, it could be a reversal in this decision. But, there is no one who can say anything either way with certainty.
It's anyone's guess at this point. The CCP and PBOC are incredibly cryptic when it comes to new regulations. At least one official has suggested the ban is only temporary, but that doesn't mean anything in the scheme of things. There is often internal disagreements and power struggles in such Party deliberations.
In regards to cryptocurrencies, I suspect the exchange ban is temporary, and we will see licenses and regulation forthcoming. With ICOs, it's anyone's guess.