China didn't want to lose the cutting edge of technology. So the idea of having a Sina Weibo was an attempt to compete with Twitter. However, it has no soul - which is freedom of expression. Nevertheless, I think the government regrets having Sina Weibo, but they cannot shut it down. That would definitely be suicidal.
For if it is not lawful to take the law into our own hands and slay even a guilty person, whose death no public sentence has warranted. Then certainly he who kills himself is a homicide, and so much the guiltier of his own death as he was more innocent of that offence for which he doomed himself to die.