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You can use UTF-8 but be aware that there are issues with older browser support. Also keep in mind that your content can be accessed by a lot of non-PC hardware nowadays. Your pages can be pulled up by phones, TVs, PDAs, etc. and some of them may have display issues. In China you can't go wrong with GB2312. UTF-8 is more of a luxury for the webmaster.
The SEs can handle the character sets as long as you code the page properly. Just declare the charset with a HTTP header, add a meta
charset tag just before your title element and declare the content language on the <html> tag.
UTF-8 has different encoding schema than GB2312. People who use browsers/devices with pre-defined encoding of GB2312 might have difficult in visiting your site, they will only see many strange characters. Although most of browsers are supposed to select the correct encoding according the charset defined on your page. In practice, I have seen this function fail pretty often.
My question is: if you can use GB2312, why risk yourself in using UTF-8?
It is just my opinion.