You can OWN a Bible in China. You can peruse the Bible and accept anything that you need/want. There are two things that can get you in serious trouble/danger.
They are:
1. Organising people in a place to read Bible together...
By doing this, the government will get very anxious. The Chinese constitution allows full freedom of religious belief.
(i.e) You can have the right/freedom to believe what you want, but not to organize a Social group like Church.
2. The Communist Party is officially atheist, and if you are fully into the religious body (Christianity), you will not get any lucrative Government job to do
Source: Joseph Wang-Quora Digest
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But God is ruling ower them now
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