Sorry, but I just don't see it happening. China tightened a lot of things over the last few years. There are too many things that China can loosen to keep their economy growing. I would hate to be on the short side when they announce a big easing, as the move could be 5-10% higher in a single overnight.
The only way a short position would work is if you think the central Chinese government is going to keep policy tight while watching their entire economy slow down. I just cannot imagine that happening.