Matched? Most likely. Exceeded? No.
Because they used to be the ones in charge and now not in charge, that's why. The last few dynasties were Manchu if I read the history right.
No, the Manchus were the Qing Dynasty (House of Aisin Gioro). Prior to that, the Ming Dynasty (House of Zhu) was Han (the majority ethnicity in China then and now).
Anyway, to get back to the original topic, you have to understand that China has a massive grudge against the West because the West proved that, no, they weren't anything like the Middle Kingdom they believed themselves to be.
Now they see the European powers severely weakened by the past century, with only the U.S. really capable of standing up to them. So they figure if they can knock down the U.S., then they'll be the Middle Kingdom once again and make everyone grovel, especially since the U.S. is busy tearing down the order it used to contain the Soviet Union (sort of; it's more that we're putting pressure on our allies to step up).
China is absolutely a threat to the U.S. Could they invade and defeat us in a war, hell no. Could they make our lives miserable if they were completely determined to do so, yes, but we can in turn make their lives hell. And it's also becoming apparent to the world just how big of a bunch of assholes the PRC actually is with the pandemic and their handling of it and trying to throw their weight around. So their attempts to expand influence are blowing up in their faces, fortunately.
So we'll watch and move to keep them in check.