My understanding is that a Chinese citizen cannot transfer money out of China to open up a brokerage account UNLESS he or she has cash stashed offshore (HK, EU, BVI, etc). Even then, this is not easy to do because the Chinese govt frowns on this.
So, while you technically might be able to open a brokerage account if you live in China, you can't actually trade within that account using funds that you have in China.
China also restricts foreign ownership/trading in its domestic stock markets. That is one of the reasons that PEs tend to be much higher in their markets, because it is closed to most global investors and therefore much more inefficient.