While I don't think that large Chinese companies like Baidu will accept bitcoin in the near term, the exchanges in China are actually booming. Chinese traders on the bitcoin forum say that it is quite easy to get state currency on and off the exchanges (much better than the US), and apparently it is competitive enough for several exchanges to be running extended no-trading-fee promotions.
You can see Chinese bitcoin trade volumes at this site: http://btckan.com/price (Google translate, also don't forget the 0-fee promotions). I hear that a one or two of them have shady reputations, but the majority don't. Volume has been increasing, and is rivaling dollar trade volumes. So the government isn't too overbearing in this regard, it seems. The state media also ran a detailed bitcoin TV special several months back.
Comments
While I don't think that large Chinese companies like Baidu will accept bitcoin in the near term, the exchanges in China are actually booming. Chinese traders on the bitcoin forum say that it is quite easy to get state currency on and off the exchanges (much better than the US), and apparently it is competitive enough for several exchanges to be running extended no-trading-fee promotions.
You can see Chinese bitcoin trade volumes at this site: http://btckan.com/price (Google translate, also don't forget the 0-fee promotions). I hear that a one or two of them have shady reputations, but the majority don't. Volume has been increasing, and is rivaling dollar trade volumes. So the government isn't too overbearing in this regard, it seems. The state media also ran a detailed bitcoin TV special several months back.