I think it is unlikely that China is ever going to really transition away from a heavy industry / copycat technology economy, until its current government is overthrown or otherwise replaced.

This is a fundamental problem with totalitarian regimes that oppress their people. A key part of denying people freedom is preventing free exchange of information. Happily, though, the leading edge of economic success seems to increasingly rely on unfettered flow of knowledge and information.

This is, overall, good for the free world, as advances in information technology yield increased productivity for both organizations and individuals. It is not that good for autocratic regimes like the USSR and China, because they have to actively fight the tide of improving technology -- which both consumes energy and keeps their population less knowledgeable/capable, thereby disadvantaging them in the increasingly information- and knowledge-dependent modern economy.