In theory yes, even ASML does some research in China, but the Chinese are better capitalists than the capitalist themselves, the Americans are depleting and weakening their economic arsenal by using sanctions willy-nilly, the Chinese have no used they rare earth monopoly and the reason is because,
why? they are making money from it. They know once they start to using it they will be depleting it as companies with time find alternatives. What the Chinese use is their consumer demand, the goverment don't even have to make it public. The vast Chinese state sector just shift their suppliers as they wish.