The Chinese strategy to the US is to lay low, keep trade going, and wait while US internal social and political divisions grow worse. The next two years will be crucial for the Biden administration because the 2022 mid-terms will show whether Trump's policies were a fever or a cancer.

Never interrupt a challenger while they are busy committing suicide.

The Chinese are very good at waiting for the right moment to strike, and doing nothing in the meantime. (in fact they are doing plenty; it just isn't visible to most Americans and the western media.)