As right now China is thinking of creating their own coin, so it means that they wont stop mining but they can regulate it and make more strict restriction so that illegal usage of power in mining wont work

They tried but they have not succeeded, china controls 70 percent off mining in the world, so they have so much influence on mining, if china bans it now, the Chinese people would be finding it hard to freely mine bitcoin and other coins that are mineable, and to move the mining machine out of the country would be difficult because their custom would really want to frustrate such miner.

This will surely make these coins to start becoming quite more scare, though the more the coin becomes scarce, the more the value will appreciate, but we cannot completely keep miners out of the market, and the remaining miners around the globe would not be enough to really satisfy the need of the community generally for these coins, so we need china to have full support.

Its only speculations and probably its quite impossible that they will ban bitcoin mining. They have benefited to it in many years and its ridiculous if they will ban it directly. Many countries are very interested about it and if they do ban bitcoin mining its their big loss. They must be ready if they do the ban.

China owns a large span of Bitcoin miners. They have approximately 70% of hash power I supposed. Though if they were to ban it, it would probably slowing down transactions, and as well it will increase mining decentralization. In addition China would be able to conserve a lot of electricity 'cause for about approximately of 70% of hash power are in China they got more than half of the world's total hash power right there. Though the bills they are receiving in return of allowing it would just be cut-off.

It does not make sense for government to have even thought of banning mining in the first time, when it had not negative effect on them. I know that when it comes to financial strength, china is already great, but they need to keep it up by allowing some of these projects that would help more of their economy and also help their lending strength to other countries.

That is in the past anyway, I don’t think that they are still planning on doing so because they are also working on their own cryptocurrency, which they will need miners a lot to be able to meet up with the number of coins that needs to be mined for their citizens to be able to use it for whatever reason they want them to use it for. I think now, they are going to be supporting them a lot.

So I guess we need to locked this thread?

Chinese Agency Scraps Plan to Eliminate Bitcoin Mining Industry.

No more "what if" now, the Chinese government has already changed its stance.

China have eliminate bitcoin mining project after bitcoin banned as legal transaction in china last three year ago, not bitcoin mining still exist in China will be banned because give bad reputation of bitcoin and altcoin price, make government not good with public because they can give solution for their people.

Bumping this interesting year old thread to see if anything has changed.  Appears China miners continues to have the majority of the hash power (~65%) and currently China continues to be permissive of bitcoin mining. However, China's own central bank digital currency (CBDC) is gathering momentum. My current question is that as China rolls out its CBDC is there a risk of China making mining of bitcoins illegal since they might (incorrectly IMHO) view bitcoin as some kind of competition? 

If so what would be the short term and long term ramifications if the China's miners were turned off overnight? IMHO short term there might be a negative knee-jerk reaction, but long term the decentralized nature of bitcoin should accommodate any major shift like that.  Would such a shift make a 51% attack actually possible?  Thoughts?

A couple of related articles as FYI

https://cointelegraph.com/news/us-bitcoin-holders-worry-about-chinese-control-of-the-mining-network  May 1, 2020

https://cointelegraph.com/news/china-s-leadership-in-the-bitcoin-mining-industry-will-be-challenged    Nov 14, 2020

Nothing will happen. Several times we've seen about the banning of bitcoin mining in China. At occasions on inspection about the disturbance in the economy bitcoin mining will be stated as a reason. Later the news fades, and mining won't be stopped by the government or the owners. Regularly there is more and more advanced mining equipments manufactured. China holding majority of the miners is also an advantage for them. If China goes against bitcoin mining, and people stops it automatically someone from other countries will take the chance and starts mining. So, at any cost the network won't get disturbed.