It's re-branded Socialism. Incremental as always. Paired with the social credit score, it's every authoritarians dream.
This is why free-market advocates have been pushing it for decades as a better form of welfare.
That's it. You're feeding on 100 years of western propaganda and neoliberal ideas.
China is state capitalist, UdSSR was state capitalist.
If you want to see a working socialist state, even though it's suppressed by the US government for 70 years now, which explains most of its problems btw, look to Cuba.
Citation needed.
Edit: Okay, whatever, here you go, right from Stanford: https://plato.stanford.edu/entries/socialism/