Pardon the skepticism, but let's look at China's track record.
"In 2002, China was the principal driver of the illegal trade and made very few seizures," said Tom Milliken, director of eastern and southern African operations for Traffic, which monitors the trade and advises the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
In 2008, South Africa initiated a one-off sale of stored ivory. This brief sale, though legal, renewed interest and increased demand within the Chinese culture. Ivory prices skyrocketed, but the "legal supply" was exhausted. Immediately following this sale, according to CITES, "record levels of ivory were seized and sustained throughout the period 2009 to 2011."