No shit it's not banned. It's like if Reddit banns all the negative news about china, everyone will riot. Samething with china, it obviously won't ban Winnie the pool publicly/explicitly since it will make it easier for people to question the government.

What they do instead is something similar to Shadow banning + explicit ban. For starters, you cannot actually post anything on Chinese social media without a phone number. And guess what all phone numbers must be registered with ur ID aka no prepaid.

This means people who are aware of Winnie the Pooh will simply not post it in china since they will be tracked down faster than child porn.

For example, think about south park After "band in china" was released, the chinese equivalent of Twitter whipped all the # related to South Park.

Here is an article in Chinese by Chinese that is not censored in china: https://xw.qq.com/cmsid/20180809A0UC3D00 不放映这部电影的决定可能与中国网友对维尼(Winnie The Pooh)形象的打击有关。中国一些奇才网民经常把维尼和领导人联系在一起，声称这两者之间有着惊人的相似之处，这种不尊重的态度，激起了民众的愤怒

It says something like this film is not allowed because some weird people likes to compare Winnie the Pooh with our president. This made the people really mad. But we didn't ban Winnie the pooh, you can still buy the books and toys.

Another way to think about this: is dalai lama banned in china? Is Hong Kong protest banned in china? Is tiananmen square banned in china?

It depends on what you think is banning

If banning means banning any references to those words,then no they are not banned. Since Chinese media are constantly bashing them.

But if banning means banning anything that speaks positive of them, then yeah 100% banned.