Does China Have it Right?

I was surprised a while back when I heard that China limits what movies are shown in its country, not only due to their governmental beliefs, but also due to morality. In China, movies are not rated like movies are over here. Either the movie is acceptable for everyone of every age to see, or the government simply doesn't allow the movie to be shown at all. To be sure, there are probably movies that make it over there that I wouldn't think children should see. But the policy that China has of not allowing anybody to see something that they don't deem appropriate for children to see is interesting. How different would our culture be if we had this policy? Does China actually have it right about something?