When I lived in the UK and Canada, I would never dream of leaving my bike unlocked. Even locked, I've had bikes stolen. Once, I locked my bike to a bike rack and they stole the whole bike rack (must have been a chore!). Most of the time, they will deflate your tyres in hopes that you leave the bike there overnight so that they will have some time to cut off the lock in peace.
Anyway, it's just cultural. I suspect that's hard to believe (it would have been hard for me to believe before I left Canada). In each culture there's a lot of stuff that's good and a lot of stuff that's not so good. People really do behave differently, but I've travelled enough to know that one culture isn't really appreciably better than another -- just different.
If you are caught by a mob while stealing .. brace for Impact!
edit: The broader point being "risk" component of theft in certain places is sometimes inhibitive in spite of apathy from authorities.
The best theft-prevention mechanism in China is to have an old, rusty, broken looking bike.
According to the "Gini coefficient" wealth inequality is actually slightly higher in China. Any other theories?
So we have no evidence yet that China has less income inequality than the US. Which makes it a very unconvincing reason for differences in crime.