I should have been more specific- their globally successful films are artsy. It's not National Socialism's Polish Vacation starring Johann von Gerrghenswittebach that gets known outside of Europe, it's the Hunt, Antichrist, Life is Beautiful, etc.
Chinese films have ambitions of American quality but they end up looking like those Turkish or Russian war films- they're bombastic, they're chauvinistic, they're unapologetic, but they look like a Medieval TV show that would have been on free TV in the mid-2000's. Everything is green screened, and it's some shit CGI they got over there. Their comedies are hugely successful domestically, but no Westerner wants to see Chinese films anymore. The age of the Hong Kong flick died when China took over the city.
Prediction: over the next 5/10/20/50 years the CCP will have autistic debates over their film industry. The Chinese film industry does not need to aim for a global audience, it is large enough internally, and it will lead to a lot of schlock like we have in the West but ten times worse. The CCP will have actual debates over whether or not Wolf Warrior MCLXXIII is a good influence on the country because of how schlocky it is.