My standard response - I see a really big difference between private corporations operating under rules of democratic government (with both of them being bad in many ways) and state sanctioned company, operating under the rules of an authoritarian regime.

And merely pointing a fact that China is an authoritarian state is NOT sinophobia, and please don't use arguments like that to try to shutdown discussion.

I've also seen myself few big-tech companies throwing literally hundreds of millions of dollars at ways to protect their infrastructure from USA government eavesdropping on their infrastructure. That's just not a possibility in an authoritarian state.

And if you don't see reasons why giving very powerful, authoritarian regime full access to huge amount data about people is a problem - well, history books can show you some.