I will just be honest, although a little rusty.
Global(US) company cant survive in China, a major reason is that their services are not competitive enough(although a few exceptions, e.g. Google Search), comparing to local rivals.
Amazon, for example, their delivery is not working in China. Competitors are offering same-day delivery, or even 3-hour delivery one or two years ago in China, while Amazon is relying on some crappy 3rd party delivery with a high deductible you have to meet before your delivery can be free.
Wechat centers around chatting as a take on SNS, and it works. It is not Facebook, but works like Facebook. While the direct copy of Facbook, Renren is long dying.
So it is really a grey area when we talking about success in China. What you need to realize, Chinese companies are very competitive. Shit tons of money pours to Chinese internet companies over the past decade. Tencent/Alibaba are all 100 billions company, and there are sizable of others worth more than 10 billions. Also, China has good engineers too, might not live up to bay area standard, but they are also much cheaper. Last but not least, I want to point out, a lot of 'tech' companies here are not really tech driven, rather they are just tech users, so their model can be easily copied and recreated, not only in China, but also by other big US companies.
All in all, it is not realistic to expect what work here automatically print money in China. South korea is an interesting example, where GFW doesn't exist, but US companies also have a hard time there, it is just that China is bigger so it gets much more attention.