Apple underlined the importance it sees in the Chinese market today by announcing that it is launching the iPad on Friday, this week.
According to their announcement the WiFi only version is the only model they plan to sell. The 16, 32 and 64GB models will retail at CNY3988, CNY4788 and CNY5588 respectively. Making the prices comparable to most other overseas Apple iPad prices. i.e. Slightly more expensive than in the US.
Typically countries like Thailand, which have a very loyal Apple Customer base, get new products before China. And yet they are still waiting for the iPad, while grey importers bring the tablets into the country for massive profits.