That is a joke. I read somewhere that the US is more socialist than China these days and I would have to agree. US has social security and apparently China has done away with the state income to people or something like that.
China is just an authoritarian(currently) country marching towards capitalism and actually democracy also - they have started experimenting with some low level elections. It cannot sustain itself as a authoritarian nation in the long run. When people start being materially well, then they will focus more on demanding intellectual freedom. With increased technology it will also be difficult for the government to control people forever. The electronic great wall of china will fall down sooner or later like the berlin wall.
Moreover, communism, as great the ideal of equality is, in practice it simply cannot survive the most predominant characteristic of human nature - the 'self'.
Would have to admire the way the Chinese leadership does things in measured increments but more or less sure footed way. Russia is too much of a bad example on what will happen when a government system changes suddenly without preparation. It took them almost 10 years to recover.