All that means is an interchange of definitions: Chinese calls "corporations" what US calls "government" and vice versa. But not fundamental different reality.

On planet Floorp, carpets (organic bipedal tetrapods) use people (machines that suck air) to clean vacuums (woolen floor lining). How quaint - no, not really, that's exactly the same as on Earth but with different words.

There are good arguments to be made that the USA's government is corporations, and the entity we call "the US government" doesn't actually meet the definition of being the government of the US.