The ads would likely get yanked by the censors at platforms and media outlets. Ads could be run outside China would be probably parodied wolf warrior style. You might even find China absolutely blitzing the major world media markets and hoovering up the space for their own brands to shut Nike out. The major marketing groups that have major China exposure like WPP would likely do that buy for them. You might see China flexing its machine learning skills to blur logos in real time and the narrative over the kneeling would be spun as part of the chaos in the US around Black Lives Matter - see how superior our system is. I also expect offensive PR using western agencies like Consulum or similar shops to work in the shadows. Consulum already work for the Hong Kong government, so their brief might get extended. Another option might be a major group that has exposure to China like BCW Worldwide