Fastest way to burn $800 billion. Even the Chinese government isn't nationalizing its AI companies, because there's no chance a cutting edge technology company can remain competitive when run by bureaucrats.
IOW China almost definitely sees their own open-weight models as a pressure release valve to ensure the US AI companies, and by extension the US economy, doesn't get too big, and to ensure that these companies don't become the dominant global force (the way that e.g. US cloud companies did originally).