Market information in China flows freely. It is information about government mistakes and policy failures which is restricted.
Dilma Rouseff’s impeachment gave investors more confidence in Brazil for example because they could count on the system actually keeping checks and balances on ambitious individuals. The same can definitely not be said of China.
On the other hand, investing in China could have you get guaranteers by politicians that they'll help with your investment, even bypassing the market rules in your favor, making it much more profitable to invest there.
So you might not get much competition, but you still get highly successful investments.
It's not like western economies don't get too monopolistic and lobby-powered all the time (Amazon, Google, Facebook, and co).