They moved the storage of encryption keys for Chinese users to servers in China instead of shutting down iMessage and Facetime.

These are totally separate things. Apple users in China can still use iMessage and FaceTime and those are still end-to-end encrypted. If you choose to store your iMessages in iCloud, those can be accessed by the government, but that's the same as they can in every other country. The UK's proposal is to directly break the security of iMessage itself, something worse than what China has done.