This is confirmed by Tatsuo Eguchi (President of SIE Shanghai) and Soeda Takehito (Vice President of SIE Shanghai) who speak of a launch scheduled for Q2 2021, or for the second quarter of the year. In a few months, therefore, PlayStation 5 will reach China together with an ad-hoc version of the PlayStation Store, which will offer content designed specifically for the local public.
We do not know at the moment what Sony's plans are for the launch of PlayStation 5 in China, this will have to be supervised and approved by the local government, moreover all games will presumably have to contain the textual tradition in simplified Chinese, as has already happened for the PlayStation 4 games.
That of the consoles is a market still to be explored in China and hardware manufacturers are often forced to enter into agreements with local companies to ensure good support with regards to translations, adaptations and publishing of games.
Sony for its part has long supported the Chinese market also thanks to the PlayStation China Hero Project, a project created to discover talented developers and support local studios with the aim to look at the global market.