As for hardware, you’d have a better argument for the Republic of China (i.e, Taiwan), AFAIK. A lot more critical hardware is made there than on the mainland.
But that’s only a piece. Basically, no one can rival the NSA because no one has been able to pour as much money into it as the US over decades and decades. You could make an argument that the PRC is now pouring billions into cybersecurity every year, but even if that doubtful premise were true, it’s not enough to counter decades of spending (yet).
We know that the NSA does things like physically tap into the underwater fiber optic cables that connect the internet across continents. I don’t think anyone has suggested that China has that capacity yet.
That said, the question is regional to some extent. The NSA has a lot more power in Europe and North America than in China.
As Snowden revealed, everything that Google (and Yahoo and other services with servers on the US mainland) knows about you the NSA also knows. And they also know a lot more.