You don't see visible homelessness nearly as much as in US big cities. Chinese friends I've discussed this with attribute it to familial piety acting as a much stronger safety net; people will make big sacrifices to save their relatives from total failure. It's expected, and a stark contrast to the American notion of extreme individualism. There's also no opiod epidemic.
Homelessness in China is visible and universal, but you have to know where to look. There's a lot of shame associated with it, just like disability (I'm sure you've probably noticed you don't see many disabled people in China either). https://aeon.co/essays/what-is-life-like-for-disabled-people...
I fundamentally reject that filial piety is the reason for this (filial piety causes all sorts of other social problems, too).
People in Confucian cultures hide things they see as shameful to protect their 面子.
If anything, I think this indicates there are far darker unseen truths in Chinese society that we are insulated from through the 'face' system.
