Ironic, Western politicians thought opening up to trade with China would lead to it adopting a Western model of government. Instead it's lead to the USA adopting the Chinese one.
Kinda. But I think the current Chinese model is actually much closer to how the USA used to work when there was competition with the USSR. Closer than the US of today compared to the 70s and 80s.
The current Chinese model's basically you have fully publicly traded companies, companies who are either minority or majority owned by a certain provincial government and ones who are either minority or majority owned by the central government (although this is surprisingly rare outside of key areas like telco/banking)
Something like 60% of the top of 100 companies in China are entirely state-owned. Most of the rest are government stake