The most significant part is probably that getting that extra bit of performance and power savings from a new process is where the most money is.
But for China wanting independence from sanctions, this will probably cover 90% of their needs, and in a few years, they may have caught up completely.
I think most people fail to appreciate how much of a powerhouse China is when they commit serious ressources to something.
It's remarkably easy to build something someone else has built before.
I don't have faith China's factories will lead the charge at going beyond what has already been done, just that they will reach a financial parity with the west.
One factor to keep in mind though, is human productivity only happens at that kind of speed if they (the citizens involved) feel like they are getting something back from the process. And Chinese disillusionment with their own economy is growing.