There's no free market in China. The government is pretty strict in banning foreign enterprises (that can only operate in China if they're co-owned 50% by Chine

There's no free market in China. The government is pretty strict in banning foreign enterprises (that can only operate in China if they're co-owned 50% by Chinese) in order to develop local companies. So basically restricting the more powerful player and empowering the less powerful one. That (i.e. non-free markets) has worked wonders for them.