China appears to be where Japan was 30-40 years ago -- lots of manufacturing resource and a pretty good ability to immitate but almost no ability to innovate.
While it's easy enough to copy electronic and low-tech mechanical devices and there are countless small foundries and machining shops around China doing just this, I would wager that there are far fewer facilities for casting and properly testing things like inconel turbine wheels to a satisfactory standard.
Don't under estimate the resources at their disposal. There is lots of high tech abilities in the far east...we just haven't seen the effects of it ....yet!