Yes they started in China but I don't know if you can call it based on china for that reason. You have Zity Of Zion for example. A development group which are not based in China.
It relies on China when it comes to the price I can give you that. But what crypto doesn't relies on China. I mean do you really think that China don't trade bitcoin or any other allts. Of course they do. Thay just can't do it on exchanches like we do.
And if you look at NEOs consensus nodes. They are not all placed in China. They are distributed all over the world. You can read more about how they trying to distribute there nodes here: https://medium.com/proof-of-working/decentralization-from-coopetition-b10d7ce3b9d
Both the comunity and the NEO council are working hard to wash away there stamp that they are the Etherium of China.