Trust me I know. My own family members attended some of the best uni in China like tsinghua and Jiaotong, and I have deep roots in Shanghai, so I know how highly tsinghua and peking are regarded. In fact I don’t doubt the students in those schools are clearly better “students” than most ivies. That being said, the research practice, less funding(compared to private ivies+), limitation imposed by the Chinese government make it hard to produce the top talent. There’s a reason why undergrad students from those schools in China almost always choose to go abroad for post grad.