I don't think the important part is actually one for one replication of the system in China. I think the key parts to deliver progress are diversity of investment decisions, competitiveness in markets, and stable long term goals & fiscal support.

It's too easy to get tied up in political labels, when any hybrid of public and private support for those helps growth. None of political ideas has an exclusive lock on providing the factors. At this point, I really don't think any political system guarantees the development outcomes, there are examples of all labels which fail one to all of those progress factors.