I don't think there is virtually any impact on innovations in China because of western social media censorships. China is on track to match US in AI research paper output, for example. Same goes for other fields in medicine and manufacturing. Also, you have to look at Chinese view point to understand why there is no revolt in China around blocking Google or Facebook. The argument that government has successfully made is that China is not ready for democracy, the democracy usually means incompetent politicians coming to power because of their ability to fool people and that lot of developing countries which adopted democracy have managed to make only a tiny fraction of progress that China has made (for example, compare India with China in metrics like GDP, research output or army).