Suppose that the structure/organisation was reversed
-That Government PMs & Ministers ware appointed on merit with longish tenure and that Corporations had their CEO/Management elected by employee popular vote for 3 year terms.
IMO that wouldn't work very well for business and the private enterprise share of our economy would soon collapse .
So getting back to the Chinese system: China has 100 million CCP members from which its local, State and National politicians are selected on the basis of merit with their career paths via local and State Governments to the National level.
Four years ago when Kevin Rudd was launching his book "The Avoidable War" which was in essence the book form of his recently acquired Oxford PHD, the Chinese Ambassador to Australia made a remark during Q&A:;::........He said: " its interesting that some Australian Politicians get their PHDs after their lives in Aussie Politics but in China we do it the other way around"
I guess the bottom line here as that most those whom we elect to Parliament are, in most cases, inadequately educated/experienced to do the job and that's exacerbated by a short 3 year term and that if this system were to be applied to corporations, then more likely than not, the corporation would collapse within a few years
To compensate for that we have a Civil Service which is far from being "democratic" "Yes Minister" made a laughingstock of this system!