I've had similar thoughts about the incentive differences between the CCP and western political parties.

I don't attribute much of China's economic growth to CCP planning. Rather, the lifting of Mao's insane restrictions allowed for economic growth. If the CCP would further liberalize the economy, it would grow even faster.

There's no real mystery here for an Austrian. The average Chinese person is only about a quarter as productive as an average American, despite having fairly high levels of human capital. That difference is then attributed to China's inferior policy landscape.