Could this be a bad omen for the Communist Party? Traditionally in China the rise of religious cults (along with proliferation of corrupt officials and major earthquakes) have been seen as signs that a dynasty is losing its grip. Officials in Beijing are well aware of this and are keen to avoid broadcasting these warning signals to the broader population.
I did say not to panic if you are an American. The Chinese can take warning without feeling too silly, I think.
But it is hard to say when China's economy isn't as transparent as you'd like. Based on their statistics, it's full steam ahead for the ship of state. Are they really delighted?
