China shifts more and more towards a free market economy while we are becoming more socialist and centrally planned. It was said that we won the Cold War but more and more it seems like we may have lost. Russia and China are more capitalist while we are becoming more like a European Socialist democracy.
While China's market place is starting to thrive, they have a long way to go before they have the same standards and ideals as America. The government still has a huge amount of control over its citizens and the economy. I think a lot of the Chinese citizens like the idea of a free market place, but I think that American's have experienced it longer and its part of how they were raised.
As any observer with eyes can see, these days to call China communist would be farcical, to say the least. There are likely more entrepreneurs living and operating in China than in any other country in the world. That said, there are still significant command market elements in China, and the government maintains the right to intervene in the free market at any time, and without necessarily justifying their reason for doing so. While the US government does have limited rights to do the same, they are not nearly as far reaching as in China, and so it would be a stretch to say the Chinese do capitalism better than even the US.
China isn`t a believer in the free market. On the contrary China is regulating its entire economy: market, production, even Internet access. In a regulated economy, as regulated by the ruling elite as in China, free market isn`t possible. Supply and demand equilibrium utmost feature is equal access to resources, capital and clients, and in China the strict regulation and the government owned production plants are not even close to the free market idea.