These are great observations and analysis of published reports in similar subject.
One should if possible try to appreciate further potential 'reasons' which might not be able to be 'easily emulated' (sometimes understood) in the western world, for example:
1.) Chinese has such cohesive extended family structure (in general) that everyone is 'striving' to be successful from day one in order to 'bring glory' to themselves and their family/ancestor.. For example, every year, Chinese new year (or wedding functions) is the time when elder family members (Grand/Great-grand parents) compare notes and boast about their more successful kids or grand-kids. (in some ways similar to certain Mediterranean cultures, or Greek/Italian), but for Chinese, Obtain & gain "Success" is like a sub-routine in most Chinese's brain (on operating system level).
2.) Comparative weaker social support/benefit structure, means sometimes you have NO CHOICE but start your own business (can you imagine, for those that are NOT entrepreneurial, when they cannot find work and have to move thousands of miles away for even some hourly/daily paid jobs when even that is lucky? and have to fight to get home every year, where your kids & parents are.)