I wouldn't imagine that. I'd consider two factors first:
- China isn't known for "embracing bicycles". It's known for people being too poor to have cars, such that bicycles are the fastest transportation they have. Bicycling is not a prestige activity.
- China also isn't known for athleticism. The Chinese government really likes winning medals; the Chinese people seem much less enthused. A meme went around a while ago about how China has ~20% of the world's population and ~0% of the soccer players.
Perhaps in the next decade, once China has made more effort to clean up its air and traffic congestion, this will return.
[0] https://en.wikipedia.org/wiki/Tour_of_Beijing
[1] http://www.cyclingnews.com/news/riders-fight-against-polluti...
[2] https://sports.yahoo.com/news/tour-beijing-stage-slashed-ove...
There is a lower barrier to entry for running, I don't know if there are other reasons why they do particularly well though.