China rose from poverty only because of capitalism.
Alas, it kept the old socialist authoritarianism.
Their version of capitalism is even tougher than ours. It is competitive in the extreme. Bankruptcies are rife as are extreme successes.
Billionaires are subject to regulation as much as workers are. If they cross the line they lose everything. The wellbeing of China always comes first.
Anti corruption is in the hands of the second highest party official. It is taken extremely seriously nobody is exempt.
China has never believed in patent protections. They believe intellectual property is a national asset and that it is showing respect to copy.
However they have, for now at least, bowed to western pressure to respect patent rights. Even if it is against their traditional competitive instincts.
I have some sympathy with their point of view. As patents always stifle progress and put blocks in the way of advancements.
I would prefer to see patents open to unrestricted licences, where the paten holder receives a percentage of the users profits from its use.
And products could be sold in competition to the holder at once, Creating real competition.
Huawei have only recently started collecting on their patent licences, in return for all the obstructions put in place against them.
Their usual practice is to exchange patent rights with their competitors. With no limits on their use. This seems to work well in China.
And perhaps in part accounts for their extremely rapid scientific advances.