China is a superpower today, and it's important to look into the past and see how that superpower came to be today. It all boils down to education. Strayer notes on page 368 that education standards and sophisticated anti-cheating methods were enacted. The crux of a renaissance comes with intelligent thought process, and an advanced educational system is definitely the method to achieve greatness. However, it is also mentioned that "a substantial percentage of official positions went to the sons of the privileged, even if they had not passed the exams." (369 Ways of the World). This could count as evidence against the importance of the Chinese "renaissance", since they are still somewhat stuck in their high born ways.
Important inventions originated in China, such as the world's first printed books. These books included content pertaining to agriculture, religion, mathematics, and medicine. This definitely sounds like a golden age/renaissance, and the importance of printed books cannot be overstated. Mass production of knowledge leads to a more education, sophisticated, and dominant society.
A counter to this Chinese expansion being important is the fact that women were still treated as bargaining chips and objectified. Foot binding was a prevalent dis-pleasantry for the higher class female. The same old Confucian tradition influenced the role of women being small and insignificant compared to her sons, husband, and father.
Overall I belive it's true that this Chinese renaissance was just as important as the European one, but because we live in the west we tend to focus on the west.