https://sccei.fsi.stanford.edu/china-briefs/reassessing-role...
https://www.cambridge.org/core/books/abs/arc-of-the-chinese-...
China has state capitalism and private capitalist enterprises, and free enterprise with robust free markets overall. These are the main reforms that allowed it to thrive after the catastrophe of socialism under Mao. Even basic stuff like farmers being allowed to sell surplus freely for profit and at market prices only became allowed in 1978.
China now has the second largest number of millionaires in USD after the US.
> a theory or system of social organization that advocates the ownership and control of the means of production and distribution, capital, land, etc., by the community as a whole, usually through a centralized government.
There are state-owned companies in all Western countries, by the way.
I don't think that you are familiar with the history and economy of China.
>But obviously this isn't how China is now and even state-owned companies in China generally operate in a market and can be in competition with private companies and other state-owned companies.
"Compete's in a market" is irrelevant to socialism. Again, basic poli sci, socialism encompasses both free market and captured market. What makes it socialism is government ownership of the means of production, with redistribution to the general populace.
>There are state-owned companies in all Western countries, by the way.
Right, and which western "capitalist" society has state ownerhsip of 70%+ of the "private" companies that make up its economy? Correct, 0. Socialism has never required the state to own all business in a given economy anymore than capitalism has required 0 ownership.
> because socialism has never required COMPLETE ownership by the state
Sure, it's only complete ownership by the workers.
> What makes it socialism is government ownership of the means of production, with redistribution to the general populace.
Well, then China is not socialist. QED. (and again, owenership by the workers, not necessarily thet state)
I would advise you, in good faith and friendship, to visit China one day. It's a free market capitalist dream in day to day life.
Public welfare isn't technically part of it, but it's hard to imagine a state where we don't have it if power is at all evenly distributed.
Central planning is orthogonal to the whole thing... credit institutions and corporations do a hell of a lot of centralized planning.