No, China censors reports of actual events if they are not compatible with the Party line. Facebook proposes to flag out unverified stories that try to pass as news.
You may argue that it is a violation of one's right to Free Speech, and that may be true but from a moral standpoint it is just plain wrong to put true stories and fake news on the same level.
If you like comparison with "communist" countries, I don't know if you had a look at Breitbart recently. It is starting to look like what Pravda was under Brezhnev: a propaganda tool for the power in place (or soon in place, since Trump is not president yet)./p?