The EU has intentional structural hurdles to pouring money into a predetermined single company. Both hurdles meant to fight corruption and nepotism, and hurdles meant to ensure fairness between the member states. After all, money to Mistral is money to France too, and you don't want countries to abuse such mechanisms

It's not impossible, but China is just much better set up for the nessesary level of government support

China has cheap coal powered electricity and leaders that make things happen. Europe has beaureaucrats that only love talking, high taxes and expensive energy.