Its State Capitalism (which is a complete misnomer), in about 2% of the country which is in "special economic zones" around major ports. In reality it is "socialism with Chinese characteristics". The number of own goals the CCP has made in the last decade is quite large. But when your opponent is making a mistake, don't interrupt them. Without the CCP, China would probably have the world's largest economy right now. Because of them, they aren't even close and have a median per capital GDP on par with Namibia. Seriously, the amount of propaganda about this topic is amazing.

Both countries are communist countries by the way.

The fact that communism naturally evolves in totalitarianism should be noted.