Maybe or maybe not. Given that they're basically picking a very similar recipe from the economical development playbook, I wouldn't be surprised if they arrive at a similar outcome. And South Korea was ran by violent dictarors until its recent democratic history. I don't think the same will happen to China, but I wouldn't dismiss the ability of its citizens to innovate based only on the autocratic nature of their government. It's not like if the Chinese people are deprived of imagination. They have it, and they have the ability to act on it, and they do.
The autocratic environment might not be most amenable to free thinking and innovation, but then I'm not convinced that being free from autocracy is truly necessary for innovation to occur. Plenty of innovation occurred when Europe was ruled by Kings, or in 1900 Russia. Even within autocratic corporations, plenty of innovation occur.
Anyways, I don't wish for autocratic governments, but I'm not willing to dismiss China's ability to be innovative based on that.