I can't say "NO" loud enough to answer this question.

Japan's economic development model was followed by other Asian countries, yes, but not by China. Really, only South Korea and Taiwan used

the Japanese model, Korea more so.

The hallmarks of the Japanese model are:

  • Economic growth and external projection driven mainly by "zaibatsu" type private industrial conglomerates (all the Mitsubishis and Hyundais of the world)
  • Development of a strong middle class based on people working for said conglomerates at fair and reasonable wages.
  • High level of professionalism in the work force due to strong cultural pressures that keep people in the same company, same job for life. Anyone can get "good" at whatever they're doing if they work at it for 40 years.
  • State government whose primary function is to coordinate and regulate the zaibatsus, often using the national bank to help their financing even when such firms have not turned a profit in decades (basically state subsidies in all but name). The S.Korean Saenuri Party, the Japanese LDP , and the Taiwanese KMT namely. The dynamic between these parties and their respective opposition parties bear eerie resemblances.
I think we can all agree that the Chinese model bears none of these themes. SoE are not an equivalent to zaibatsus despite the parallels people try to draw. Even Chinese SoEs are mainly restricted to industries that are often government owned in other countries, the so called "strategic industries", with banking being a notable exception of course. There is no true Chinese equivalent of a Mitsubishi, Hyundai or Samsung.

Browse photography at Denver.Gallery.