They have and do oversight, generally with scary commie sounding names but presumably the same day-to-day as the NSF.
But they also have a culture where lots of politicians have technical degrees, and they've gotten better results as far as government and science. You don't have the problem of "global warming isn't real for cultural reasons" in the first place.
Why would we think China is any different?
The US of 2026 has specific ideological pressure against scientists that is not nearly as bad as the cultural revolution but in the same direction.
It's not about which science would be good for Americans, or what would be the most effective directions to pursue, which way is best to minimize corruption while we invest in things that benefit everyone -- it's about the existence of particular scientific facts being politically incorrect therefore they must be suppressed, and additionally these scientists are effeminate elites and we hate them.
China does not have these attitudes in 2026. They have problems and are not perfect but they're probably better on "give scientists the ability to influence policy".
US ~537Gt
China ~312Gt