It's not that China has invested more money, but that the United States has a too low utilization rate of funds.
Take the shipbuilding industry as an example. Hudong-Zhonghua Shipbuilding produces large cargo ships and LNG ships in peacetime. The profits from these civilian orders can support the costs of its infrastructure, workers, and engineers. When the navy places an order, they only need to allocate the corresponding resources, and do not need to charge the navy for all the fees. As a state-owned enterprise, they can absorb part of it.
Where as in the United States, since the civilian shipbuilding industry is almost non-existent, the shipbuilding industry can only rely on US military orders. This has led to the fact that even for a completely failed project like LCS, the US military has to continue to invest resources to keep the shipyard operating, and the shipyard also charges high prices for its own survival & expanshion. For example, The shipyards cannot find suitable welders in the market because no one want to learns how to weld just for the military shipbuilding. They have to train from scratch, resulting in soaring labor costs with poor quality. The cost will increase as the supply chain gets longer, a manufacturer of shipbuilding equipment also needs to rely entirely on the shipyard, most of the companies in this chain are private enterprises guided by profit, and everyone wants to maximize their profits. Another example is the LSM. The US military is going to pay $460 million to $560 million for the first LSM ship, where as the PLA's purchase of 072A is likely to be no more than $30 million. Even if we calculate that avarge cost to $340 million to $430 million, the cost of this 4,000-ton landing craft is enough to buy two 25,000-ton Type 071 amphibious transport dock landing craft.
ShiLao talked about this in a broadcast a few days ago. His hometown, Huzhou, has many civilian shipyards that only have a few people and produce hundreds-ton fishing craft. Once mobilized, small shipyard from third-tier city like Huzhou can mass-produce hundreds-ton level landing craft like the 074A.