From China Digital Space
国宝 (guóbǎo): national treasure
In online political discourse “national treasure” (国宝) is a code word for its homonym 国保 which is an abbreviation for the Domestic Security Department (国内安全保卫支队). The Domestic Security Department is a branch of the police force within the Ministry of Public Security, specializing in collecting intelligence, infiltrating and dealing with political dissidents, human rights activists, petitioners, religious groups as well as “subversive” activities in the cultural, educational and economics domains. It is a massive, secretive and omnipotent security apparatus within the giant police machine of the PRC. Read more about the Domestic Security Department or DSD here.
Sometimes the word "panda" "熊猫" is used as a code word for the DSD because the panda is China's national treasure.