The Chinese government's policy almost seems to treat citizens who decide to take other nationalities as "betraying" its motherland, and therefore automatically waives their right to be a Chinese citizen. It's probably carried down from the Mao years, when China did not have many friends in this world and mostly enemies.
Honestly, I don't know if I will take dual citizenship, even if allowed. What's the point? If I love China so much I should just go back and live there and be done with it. If I prefer US then I will remain here and visit other parts of the world as I choose, including China.