I don't trust US companies with the data either, but let me tell you the difference I see.
- US companies have data. Law requires that government must ask or hack to get that data.
- Chinese companies freely share data and government has unfettered access.
There's a fine line and I have 3 points to make.
1) In one companies can say "no." In the second, companies can't. The ability to say no is important because as consumer opinion is changing we've seen more companies exercise that power.
2) More data is more power. In the first model data is distributed, in the second model it is aggregated (this is why I'd also never install a WeChat like app even if it came from Facebook).
3) There's a big difference, as an American, if my data is held by another country or not. American politicians and companies have to care about my voice (even if not much) because I elect them and can sue them. I cannot influence CCP politics, laws, or trade agreements. So at least if the data is in an enemy's hands locally I have some chance of doing something about it.
One of the key points here is that disliking one doesn't equate to liking another. Disliking Chinese companies does not mean I like that US companies have it. Disliking that US companies have that data doesn't mean that there's no difference in China (enough of the 五毛党 talk). Nuance exits. Good and bad are not discrete values but a continuous spectrum. I'll fight to stop both, but fight harder to prevent the one I have less autonomy over.