This was a subject of debate when the idea of the first UFC got pitched. Some of the strikers said it would be unfair if a fighter was submitted the fight was over, but those who get knocked down have a chance to get back up. This would give the grapplers an unfair advantage, and I agree completely I think the rules now are fair.
There is a lot of discussion about this being censorship by the Chinese government in retaliation for a tweet which was not thought through as for its consequences. Let me provide an alternative explanation: when it comes to issues that involve Chinese nationalism, and insults to Chinese sovereignty, either real or perceived, the Chinese government and Party Central have no choice except to stay ahead of Chinese nationalist public opinion by acting first. In this case, it was by taking action against the NBA.