The Chinese government is doing basically what the US government did back in the 1960s. Set a goal, make it happen, fund it properly. Gives private companies the confidence to invest in space, even if they aren't directly involved with government projects.
Except they also do it for stuff like electric vehicles and battery technology, renewable energy, railways, semiconductor manufacturing, steel production, and anything else they feel is strategically important to their economy.
Their goal is "before 2030", so 2029 at the latest, and they are on track for that. They either have or are at the prototype stage with everything they need. Their mission is not over ambitious either, it's a medium size lander and proven technologies. Blue Origin is also going with a reasonably conservative lander, but Starship is a much greater risk.