They can also just set policy by fiat on the fly. When Lehman collapsed, Treasury and Congress had to scramble and scrap to utilize their limited authority to contain and cushion the crash. Then years later passed a law to give them more tools and watch it get chipped away by courts and future Congress's and whatever is left will be enough for the next crisis.

China can just do whatever, whenever. If they need to break up Evergrande, nationalize it, take its assets, censor the media, send their execs to gulags forever. They just do it.