I appreciate the alarm. However, I don't know if we should feel China having this is less safe than an America, European, or other country. I think we have seen that whatever alleged rights to privacy and data protection we have are becoming more-and-more meaningless as the corporatocracy of the US manifests itself more.
I mean to say, this should not be any more alarming than if, say, Oracle, Microsoft, or Amazon bought Roomba vs. any random Chinese company.
I say this not to say that China has no human rights issues to worry about, but rather, that the US and other Western countries have just as many concerning human rights issues (including privacy, freedom of speech suppression, and police state) that we're just more familiar with and used to, compared to the Other that is China.
Basically, 6 of one, a half dozen of the other.