If I had to describe China, it’s “you can do whatever you want, as long as you don’t cross Beijing (the government).” It sure looked pretty capitalist to me when I was there briefly, but that was a decade ago.
China is literally more Capitalist than we are with our Crony Capitalism, hence why the most successful capitalistic endeavors of our time are stationed out of China.
I’d say they are succesful because no regulation, and all the billion dollar industries are owned by high ranking ccp members
The state insures your success because it monopolizes the industry for you and has high import tarrifs