I’ve explained before, but no, China is not capitalist. Public ownership is the principal aspect of the economy, it governs the large firms and key industries and dominates the overall character of the economy. Private ownership exists, but is secondary to that, filling in the gaps left behind by the huge state driven industries in secondary and underdeveloped areas, and is folded into the public sector as it grows. The capitalist class is not allowed to gain political power, and the working classes control the state.