Contrary to earlier reports of widespread restrictions on the transport of dangerous goods by air to/from China for the period of the 2008 Beijing Olympics IATA has now received advice from the Civil Aviation Administration of China that the directive is not applicable to foreign airlines.
View the unofficial translation of the CAAC notice.
Specifically, Article V of the supplement states:
Foreign airlines shall operate by complying with «Foreign Carrier Operation Certification» (CCAR129) and «Civil Aviation of China, Transport of Dangerous Goods by Air» (CCAR276), not being restricted by this «Notice».
Airports of six Olympic game event cities described in the Article II of this «Notice» can still operate its dangerous goods ground handling services for foreign airlines according to «Civil Aviation of China, Transport of Dangerous Goods by Air» (CCAR276).
More information is available from the CAAC website.