China bans US businesses because it has an autocratic, ethnocratic government. The US is banning a Chinese business for obvious national security reasons.
If you're comparing outsourcing, mutual trade agreements that benefit both countries, to intelligence gathering, copyright/patent theft, media influence, etc., you're probably not going to arrive at a serious position here (not to mention the downvote).
Answering tit-for-tat is fine, even if the thing being done is bad in itself (e.g. waging war is bad, but should a country not use weapons to defend itself when invaded?). If else US and in general the West should have acted earlier: if American companies where free to operate in China and influence its people I doubt this ban would have been enacted.