China's outperformance of Europe is undeniable. In the chart you shared China was at barely 1/20 of Europe's level a generation ago and now is over 1/3.
What will the comparison be in one more generation?
China's achievements are incredibly impressive, and will likely slow down as it gets closer to parity with Western standards of living. As for outperforming - rate of growth/catching up: sure - but not (yet) in most other regards.
China is also ahead in terms of academic output, biotechnology, software and aerospace technology. Of course it hasn't been put to the test, but China's military has also likely pulled ahead of Europe.
China is rising.