NEO is considered the Ethereum of China, but in reality, not too many people are interested in NEO or the projects developed on the NEO blockchain. It seems that NEO is only well known to the Chinese crypto community, but for now the government's focus on DCEP Yuan will have this affected. It seems that the Chinese government has no intention of using the NEO blockchain to implement DCEP.
Yes You are right, NEO is Chinese Ethereum and has been created to compete to Ethereum, but I think It is difficult because Ethereum is more popular and still superior. We all know Ethereum price has touched 1,400 USD now.