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China is not remotely a socialist society. It is, in fact, one of the most rightwing countries in the world today, more rightwing even than Chile under Pinochet, where there were still pockets of organised activity not under the junta’s control. China is importantly becoming a place where the how to begin to learn chinese ingredients are increasingly there for innovation to happen - mentors, cash and as you say free markets, open minded and creative individuals and an appetite for risk. As a result the number of startups is ballooning. China is very protectionist regarding the sale of its companies to foreign entities, yet its own companies are looking outward all the time.