China is a mingling of Socialism and Capitalism, but the ultimate economic power rests with a government interested in bringing its people out of poverty. Capitalists are working within an essentially socialist system. Capitalism is where the profiteers either keep the government out of their business* or they, as now, control the government. The free market was always where the strong devoured the weak, and that now goes on with massive government aid e.g. bailouts.

*Investopedia: "Businesses and services are free of government control."

In China the govt quietly steps in when the usual abuse from Capitalist greed goes to far. Businessmen in China do not scorn govt as their tool, but rightly fear it as an obstacle to their desire to milk workers, consumers and tenants of every last dime.