> If this were flipped, it would make a difference if she was working for the CIA, the state department, or Intel.

Because those are independent from each other in a way that the corresponding institutions in China are not.

Every large Chinese company is under the direct control of the CCP. Working for a large Chinese company means you are working for the Chinese government in the same way as a state department employee (very differently from someone working for Intel, at least if they haven't individually received a National Security Letter).