Right To Be Forgotten isn't a censorship move, it's toward personal and individual freedom, not corporate or government secrecy. However, you probably aren't too far from the truth that it is because of European laws.

Antitrust and privacy laws in Europe is going to make a lot of their business less profitable there. Which would lead to new efforts to make up that profit elsewhere. China's essentially an untapped market for Google, so its not a shock for the drive for money to eventually bring them back there.