If I can remember it well I think it was in 2016 that China have called all Asian countries to convene and create its own cryptocurrency that will serve as a legal tender in whole of Asia. But asian countries did not heed that call since somehow it was self serving. This time again I think they are doing the same thing but this time its global wide. I think China is thinking of world domination through blockchain technology.

It's nothing but it's all about international politics and the economic clash between the USA and China, While the USA government are trying to stop Libra and another cryptocurrency then this type of Decision of just makes a sense which leads to their domination over this platform. I think China is going to make another cryptocurrency better than Bitcoin because It's totally different from other coins, You have to copy to this platform but you can't make it as like this system. if they could then they would make very earlier in this decade because Bitcoin has already passed 10 successful years. So I think Chian hasn't any intention to create any cryptocurrency.

We don't know yet the real reason for his statement, as we know China would wanted to be the best always in everything, so what keeps surprising us if they are secretly developing their own digital currency to compete with Bitcoin, so we don't know that yet unless they will release it, but it is possible that they are doing such thing.

Chinese president word on blockchain we can expect chinese blockchain companies may get more pump in the coming days

While the saying is "blockchain is not Bitcoin", there are multiple aspects here. BTW, thank you for pushing the price back onto the right direction 

1. China is the world's biggest manufacturer. Blockchain can be a blessing for logistics!
2. Whether China's communist party likes it or not, crypto markets means real money, money of which some parts can be earned. It was a mistake to say "no" to that money and this may be fixed in a further step (and maybe this is what the price has shown).

Bitcoin will remain the most powerful and trusted cryptocurrency that is and will ever be created as far as cryptocurrency development is concerned. Any coin created by the government will be considered political as other governments will seek ways to create a better version.

If that is the case then China is not the first country to try to replicate or replace bitcoin and you know what they all have in common? FAILURE! Many countries and companies have tried and failed in the past perhaps China would like to give it a try. The bitcoin is almost perfect currency and I don't think any country will succeed in trying to replace bitcoin.

Chinese shitcoin projects have gone full bull mode after that announcement, which is quite interesting. Of course, this can also be a few whales trying to pump and dump, but at least there has been a massive move.

Overall, it doesn't even matter what caused the price to go up, what matters is what the chart of Bitcoin indicates, and there is no other way to describe it as frigging bullish with much higher levels to be reached in the coming weeks.

There's really power in China, they are 1/4 of the total population so their president word has real impact in the world, just like how they are banning mining in their country. For sure if the president of China will give even a single word that he is favor of Bitcoin and that he is also investing some of it then for sure that the Bitcoin world price will be unstoppable and the demand will continue to rise as time is passing by.