When comparing a jet fighter the following things are what must be compared:
1. Engine - The engine JF-17 uses is the Klimov RD-93 turbofan which provides almost 50KN of thrust, which if you ask me is a little less. Also russian engines till date have been known to haven't been able to sustain afterburner for too long. So its 85KN of thrust cannot be sustained for long. Its top speed is also less.
The F-16 uses a much more powerful and reliable F110-GE-100 turbofan which provides 76 KN of dry thrust, which is more than enough for a plane of that size, and with its afterburner it provides 127 KN of thrust, which is a LOT. Also American engines are more reliable than Russian engines.
2. Weapon Load - JF-17's weapon load is 2/3 of that of the F16. The F16 carries more weapons, more fuel, has more range than the JF-17.
3. EW Suite - JF-17 has a chinese EW suite which are definitely not the best, its derived from russian EW suite which even the Indians refused to buy. Indians used their own EW along with Israeli. F-16 can be linked with awacs seemlessly. Their datalink technology is matured and proven.
4. Radar - The first 42 JF-17 are going to be fit with KLJ-7 radar which has a lookup range of 105km, 85km lookdown for a 5m2 rcs object. The new radar may be better but not by much, may be 15-25%.
The F-16 block 50/52+ uses AN/APG-68 V9 radar which has a range upto 300 kms but engages targets only upto 105 kms for 5m2 rcs. It also has a SAR capability. It uses less power and less cooling systems.
5. Weapons - No comparison here. AMRAAMs are one of the best BVR missiles. Better effective range, more maneuverability, less prone to missing the target. Also Sidewinders can be used, which are also one of the best in its class. Chinese missiles like sd-10 are nowhere near these missiles. Even russian missiles fall short.
6. Effectiveness - The rcs of F-16 is known to be around 1.2m2 which is very less when compared to jet fighters of its league. Also F-16 uses various composites and its build quality is very nice, whereas JF-17 uses all metal structure to reduce costs, which would increase its rcs. The F-16 is proven and its track record is superb. JF-17 is new, but it uses old russian derived components which would be easily available to India and India would definitely get a way to jam its radar, find weakness and exploit it.
I hope you understand my point of view and whoa that post was long. Good Night!