While not entirely wrong, although certainly giving that statement a certain twist (as one should expect from a politician). It's certainly worth noting that while the PLAN is rapidly shrinking the gap with their most recent developments, the Russian submarines like the Yasen-M or Borei-A are not far from their respective US counterparts (more recent Virginia blocks and the Ohio SSBNs), one may even argue that due to their comparative age and the iterative improvements implemented with the Borei-As, that they could very well be the superior SSBN and remain such until new designs like the chinese 096, american Columbia or british Dreadnought hit the water in the coming decade.
In short, one shouldn't underestimate the pace of Chinese developments and the quality of Russian submarines. One is carried by massive investments into naval developments by a highly motivated emerging super power with the necessary R&D and funds to go alongside with it. While the other has been the boogeyman for the US Navy since the mid to late cold war and leans on the developments and solutions thought out and trialed at the height of the biggest arms race in history.