Their Internet usage is growing very rapidly, and even they can do the math: If everyone in China needed an IPv4 address - just one - this country would use up one third of the entire public IP address space.
“For better or worse, that is true with any new innovation, certainly any new technological innovation. There's many good things that come out of it, but also some bad things. All you can do is try to maximize the good stuff and minimize the bad stuff.”