Yeah that's true and I am not excusing the emissions, but they kinda do a dual purpose of manufacturing renewable energy hardware with fossil fuels, but then using those hardware for green energy transition. That strategy paid off this year, when Trump's war in Iran caused global oil supply restrictions. With China being the biggest importer of oil, they stopped importing and drew from their own fossil fuel stockpiles they have been building up and used the green energy to fill the rest of the requirements. The country has been preparing for such scenario (which is why China is the pioneer in renewable energy) and it proved prescient.

China also at least tax their billionaires without fear of "leaving with their business". The state also don't bail out failed companies that completely messed up through the company's own fault.