Yeah. It's actually Russia that is around 10 to 15 years from catching up. I've been following both the Russian and Chinese state firms in charge of developing semiconductor fab tooling. The main Chinese firm is about to make a full two or three generation leap past ASML (the top western firm) in the coming 3 or so years. The Russian state firm in charge of this type of tooling hasn't made anything since shortly before the USSR fell, back when Russia still maintained semiconductor lithography tech parity with the US and only right around the time the Ukraine war kicked off have they started back up their r&d.

The new EUV light source and lithography machines China has going into trial production are more advanced than anything ASML (where TSMC & western fabs get their EUV light source) has in the works. China decided to leapfrog the western firms by skipping the inefficient method of vaporizing tin microspheres with a laser to make pulses of EUV light (extremely inefficient, low quality light) and instead is going with particle accelerators to generate continuous EUV light that is higher quality (greater culmination, narrower frequency range) and higher output (10 to 100 times brighter for given power input) while using less valuable fab infrastructure space. Because a particle accelerator lacks all the moving parts and is mostly solid state, it has many times greater mean time between failure compared to the ASML machines that have duty cycles around only 90% operational uptime and 10% maintenance downtime. Rather than needing to build/buy a dozen or more EUV machines to equip a fab at scale (one ASML light source per lithography station) and have them still be a production bottleneck, you can install a single one of the Chinese particle accelerator light sources to provide EUV light to more than a dozen lithography stations placed around the circumference of its ring.

edit:

another observation. the western lithography tooling firms seem to be at a tech development disadvantage because they make so much of their money from service contracts to maintain the machines they sell. I could never see ASML decide on their own to create the type of hardware Chinese state firms have in the works because the complexity and unreliably of their machines is a major source of revenue after they make the initial sale. Their board of directors and shareholders would never allow it. ASML would also never design a machine that can replace a dozen or more machines of the same cost even if it meant higher quality output for the end user. This is why I can't see them competing in the long run now that China has made development of advanced lithography tooling a national priority with full backing of the state.

Yeah. Moorethreads is the company iirc. To put things in perspective, Intel recently also got serious about competing with Nvidia and AMD on discrete GPUs. Intel already has decades of experience making integrated GPUs and has had multiple failed starts into the discrete GPU market but Moorethreads who started a couple years later than Intel's most recent push, is at about the same stage of development as them.

Like Intel, they are a lot closer to Nvidia/AMD on hardware (roughly 4 - 5 years) than benchmarks make it seem but are being held back by just how much work it takes to bring the software driver stack up to the same level as Nvidia/AMD. Both Intel and Moorethreads are around 10 to 15 years behind Nvidia/AMD on driver software but this is a little misleading because both companies have decided to mostly abandon older graphics/compute apis (DirectX 9/10/11, OpenGL) to focus all their software development work on DirectX12/Vulkan. DirectX12 and Vulkan both have extensions that can handle software written for the older APIs at a 10 - 20% performance hit, which is a fair trade since newer software is more often than not DX12/Vulkan native.

With newer APIs like DX12 and Vulkan, less optimization happens at the graphics API/driver level with instead developers being given low level access to make the optimizations themselves. So, if they can get enough of these new GPUs into the hands of end users, developers will be forced to optimize games and applications for them. This is why both Intel and Moorethreads are just going into full scale mass production and selling their cards almost at-cost.

They don't create the chip designs, they create the manufacturing processes, which aren't as difficult to catch up to as people think.