While I'd say so, I don't think in the medium future it would have made much difference.
China wants ensure control over strategic elements anyway. I suspect that the west has started betting on China intending to primarily rely on domestic production. Possibly to preempt the future, avoid companies getting entangled further, and slow China down even if just marginally, the west has settled this policy. I say west but this is more a US thing, Europe was more reluctant to follow it.
No need to bet on the intent. At least for software in financial services, starting from 2027 all Chinese companies are supposed to use 100% homegrown software. Any use of foreign-supplied software must be explicitly approved by the respective government body.
The mandated fraction of Chinese software vs. other software is already supposed to be >65%, and the floor is being raised every year.
China wants ensure control over strategic elements anyway. I suspect that the west has started betting on China intending to primarily rely on domestic production. Possibly to preempt the future, avoid companies getting entangled further, and slow China down even if just marginally, the west has settled this policy. I say west but this is more a US thing, Europe was more reluctant to follow it.