If it's taken for granted that its impossible to make profits on the Chinese market, the best outcome for a company is to sell their IP to China and make sure the markets are kept completely segregated.
You can control the sale your own tech, but you have little control over whether you will then be competing against it down the road - regardless of the terms you thought you were all agreeing too.
The best way forward with any critical tech won't be a simple decision. Not competing in China, partnering in China, or selling tech for use only in China, all contain existential risks.
This is a battle happening at the Chinese (as a nation) vs. the non-Chinese world level. Non-Chinese tech actors will remain at high risk until the non-Chinese world can negotiate together with the same coherence as the Chinese system can.
If it's taken for granted that its impossible to make profits on the Chinese market, the best outcome for a company is to sell their IP to China and make sure the markets are kept completely segregated.