I don't underestimate their ability to copy technology. I do, however, question their quality control, just like Airbus'.
China has a ton of problems they'll have to overcome in the next few years before any of these lofty economic goals come within reach. For example, the 900B dollar in bad loans, equivalent of the entirety of their foregin currency reserves.
And the slew of SOEs that don't operate on profit and rely on the above said loans in order to provide employment. As their economy overheats and some of the obvious (at least to me) construction and commodities bubbles pop, it'll be interesting to see how they deal with the result social problems.
It's been quite a show and will probably continue to be.