I don't think that applies to technology that no one else really has. China is great at bringing down cost of something the west can already produce...they just flood the market with lower cost versions that destroy the business case for developing those products in the west. Solar panels, rare earth refinement, drones, EVs, etc...the west can do all of that, but if they undercut the market, they won't and eventually those capabilities stagnate.
But if they have something the west doesn't have, why sell it and up an advantage? We aren't friends. There are plenty of things the Chinese aren't selling to the west already (real innovations), and vice versa.
* You keep your secret sauce secret and take over the world with subsequent products.
* You sell your secret sauce to everyone and take over the world becoming the sole source of secret sauce.
So far, China has had resounding success with the latter.