I do not think that it is certain that China supports more its key industries than USA, even if that is frequently claimed, but without any supporting numbers.

During the last few decades, I have almost never heard about a big US company making any big investment, like a new factory, or even just a new HQ, except after receiving very substantial state aids in the form of various kinds of tax reductions.

In many parts of Europe this kind of aid that is received in USA by most big companies would be labelled as illegal state aid and forbidden.