It's not about 'great China' you're writing about but about how much it costs. If RN had the money that China is able to throw in you would have seen much faster pace in case of RN.
All that tells me is that you clearly have never see how British and Chinese construction workers work first hand, nor know how much your typical British shipyard worker earns.
Simply put, not only do British workers cost significantly more (often many times more) compared to Chinese workers per man hour, the work ethic and attitude is completely different between the two sets, with Chinese workers being willing and able to work harder, longer with the same if not better quality of output and just get more done in the same amount of time.
So even if the RN had the PLAN's budget, the PLAN would still be able to get ships built faster and cheaper, all other things being equal.
There are good reason why manufacturing jobs have largely fled the developed world and ended up in places like China, South Korea and Japan, especially for complex "special engineering" projects like shipbuilding.
Chinese military shipbuilding has benefited massively from the infrastructure, technology and skilled workforce developed and sustained by its civilian shipbuilding industry. Although it is repaying that favour somewhat now, with its massive fleet building programme, which is at least partially a government stimulus programme intended to keep shipyards afloat during the downturn in global commercial shipping demand caused by recent events. But the PLAN is still getting a really good deal, maybe more so than usual since they would have significant leverage to squeeze the shipyards' profit margins.
In countries like the UK and US, where commercial shipbuilding has largely dried up, the military pay over the odds to support an industry that is simply not competitive on the civilian international market in the nation of national security.
It is the correct policy in my view, but the reality is that it also carries significant additional costs that the PLAN simply does not have to worry about.