https://www.theguardian.com/uk-news/2020/apr/24/uk-governmen...
The implication is that China is hostile and leverages their power to censor/collect communication information from companies and their people without checks on this power.
They are aggressive in stealing IP from other companies and blocking software they can't control. They have history of wielding their power to pressure organizations to deny or ignore aspects of their history that they dislike (Taiwan, Cultural Revolution) and they pressure companies to hand over PII on people they find to be political threats without due process.
This is not a country you want to be a steward of an encryption identity standard.