Don't know much about ammo but do you think China needs to have something of their own to catch up?
It'll become a necessity if and when standard body armour can defeat 5.8mm bullets.
The term "standard" implies to those that on standard issue to line grunts, and that the said added weight does not detriment to their performance.
Similar deal as to US' own long gestation of 6.8mm.
Now, to mitigate such added weight, powered armour / powered exoskeleton will be necessary, and those things still in everybody's lab and proving grounds.