I think it is very ironic that China and the US are dealing with tech companies in the same way: President Biden is using executive orders, and China is using directives. This is because legislation moves too slowly, and tech companies are able to exploit loopholes in their respective systems.

Since China and the US are the major tech leaders, I expect other governments to follow their lead. The EU has their process for investigation and litigation to close loopholes.

The likely next step is for the Chinese government to help other governments help build systems for monitoring the Internet; I know that this has already happened in Iran, Vietnam and several other countries, where China started monitoring Twitter in 2007, and other systems to categorize pro-western, anti-China individuals so that they can be identified when they enter China, and who they meet in China can be tracked, and that this DB is shared with China-friendly governments so that they can add anti-Iran, etc. categories to the master DB which is synced among these member governments.