Is China communism or capitalism

The People's Republic of China is a single-party Communist state, officially called a "People's democratic Dictatorship".

The economic system existing in China today is officially called a "Socialist market economy", but most describe it as a form of capitalism.

The economy is functionally capitalist, where enterprises are organized as business companies and strive to maximize profits as their goal. Most large enterprises are organized as Western-style corporations, where the state owns controlling shares in. These are called "state-owned enterprises" and exist alongside privately-owned enterprises.

This form of capitalism is widely called "state capitalism", and is similar to the economic system found in Singapore.