The two are kind of unrelated. High carbon emissions are not proof of more or faster development - simply that the fuel being used for that "development" is dirtier.
China, as a more or less command economy, could have chosen to power it growth on cleaner energy (wind, solar... Three Gorges Dam), but coal is cheap (especially when it's State owned) and plentiful.
What will be interesting is whether or not China can sustain it's development. Will the country pursue a mixed energy portfolio, or will they continue with fossil fuels. If they continue with fossil fuels they will at some point have to clean up their mess (Which will require financial and labor expense and the slowing of GDP growth), or the entire country will be polluted and unlivable (no more growth country not habitable).