While the Chinese government IS corrupt and totalitarian, (and you might call it oligarghy), i would still classify it as a government that has big power, not as a corporation. They have 50 years economic deployment plans (no corporation usually bothers to do long-term thinking), and they seem (to me at least) to care about the well being and instruction of the people or things like growth and redistribution of resources, if anything for self preservation. E.g. they also do stuff like funding universities left and right, worrying about basic research and the like.
Heck, they actually own several corporation. The difference between to own and being owned is whether decisions are dictated by short term profits or not, and for now it definitely seems not. Actually i think the staggering success of the Chinese economics politics in the last decades is that they have made use of free market rules (capitalism, if you like that definition) BUT the government has serious power to dictate the rules and distribute the resources at will. Whether it will stay like that or even Chinese government will eventually be owned by corporations it's early to say.
The fact that human rights for common people in china are not existent or not enforced does not seem to play a big part one way of another. In fact while you can make the case that human rights are sometimes a limit to corporate behavior in the US, (but that is a very optimistic view IMO), you can also make the case that corporations in the US are treated as people, so they can also use "people" rules to have it their way, in addition to paying lobbyists to create the rules they want.