Well, it's arguable, as i said - but the CCP *did* ban mining in China (what year i forget, somewhere between '18 and '21) which led to a huge physical outflow of ASICs to other countries.  When you say 'they have half the hashing power' you're talking about antpool and bitmain as entities right? It's definitely a lot more than a nuance as to whether they have that hash power pointing at a pool controlled by those entities, vs. actually having that hash power under their own control, and inside China or out.