They are owned by the state, so the economics are a bit different.
They are by all accounts, not. Z.ai for instance is a public company according to wikipedia. Moonshot AI is private but all their investors are private companies. Alibaba, as we all know, is a massive publicly traded tech conglomerate.
Moreover even if we take the more charitable view that they're controlled by the CCP, and therefore will continue releasing models for free, that seems as questionable as the prospect that private investors will continue shoveling money into anthropic/openai.
Don't forget, Jack Ma of "publicly owned" Alibaba, had to go into classroom time out after seemingly forgetting that its classroom capitalism and not real world capitalism.