I visited Shanghai and Beijing last year. I agree with Ramesh that at least these two cities of China are light years ahead of our Mumbais and Delhis.
However, I don't know what the situation is in the inner regions of China. We travelled by train from Shanghai to Beijing and back. From what I could see through the train window of the interiors of China, I couldn't notice the kind of abject poverty that one can see during a similar train journey in India.
We were in China with a troup of our children (three families, six kids, ranging in age from 3 years to 15 years) and everywhere the Chinese would look at the children with amazement. Some even got themselves photographed with them! The one-child norm that has been stringently enforced in China has evidently left deep pschological scars in many Chinese.
The Chinese have invested a lot in their people and their human resources indicies such as life expectancy, child mortality, literacy rate, etc., are way ahead of us.
We have a lot to learn from the Chinese even though they have been mostly hostile to us since our Independence and have cultivated the friendship of our neighbouring nations such as Pakistan, Bangladesh and Nepal and have instigated them to cause trouble for us.