And the China route queue is a myth right now - The UK is not welcoming to the Peoples Republic with all the Visa issues combined with the rhetoric over immigrants conflated with asylum seekers currently.
Indeed, the refusal of the UK to accept Schengen visas add an unpleasant extra cost to Chinese (and other) tourists "doing Europe", of which the UK is (allegedly) a part.
It matters not how much less the UK government charges for a UK visa, there will always be a cost in time, more forms to fill in etc - that will put some potential visitors off adding the UK to their European itinerary.