A good AWACS platform needs to cruise efficiently, providing the best possible conditions for both the crew(operators) and equipment. Transport planes are not very good at it, as significant parts of their optimization are different (cargo hold volume, STOL&austere field performance).A good AWAC plane needs to be able to loft a heavy radar and also have sufficient internal volume for enough crew to analyze data, give commands, etc.
This is why commercial airliners are so popular in this role - they are a match made in heaven, optimized by the forces of the market.
China will have a perfectly viable and fresh KJ-600 AEW complex in a few years. It is quite moderate in its size and is certainly powerful enough for a smaller AEW.A typical business jet like Gulfstream G550 has 21k kg empty weight, 19k kg fuel weight, 41k kg max takeoff weight, making it's effective lift weight 1000 kg which is barely enough for a 10 person crew each weighing 70 kg, never mind a very large radar array that also adds drag, or the electronic equipment requires for processing, or cooling systems for the radar, or hydraulic actuators for tilting the radar, or any emergency countermeasures...
Furthermore, smaller AEW planes can be cheaper, more numerous, and more attritable.
I believe it's a good choice to have both in your force structure.