There's a big difference between being a subject and being owned. Only a really dysfunctional government would act as if they owned their citizens. Some ways to determine whether you're owned: do you-the-asset-itself appear on a balance sheet? Is your tax rate 100%? Might you get sold to a new owner?

Some heuristics to determine China's shareholders: who receives the government's income in cash or cash equivalents? Who decides who belongs in the politburo?