> There is no true capitalism in mainland China.
Disagree. There is plenty of unbridled Capital accumulation in China, and strong systems in place to facilitate same. Capitalism isn't the same thing as Democracy as you know: tho' the two concepts when used together are very powerful.
All business enterprises in China require a government approved partner, much like the Mafia partnership with small business in the protection rackets.
Without the partner, you don't do business, they just have learned not to bleed the business dry. This is tribute capitalism, it will slowly go away like most of the protection rackets, but by the time it does, the communist insiders will be oligarchs and their wealth and control will never end.
It is a very clever way to avoid the collapse that communism always creates, convert communist rule to oligarchy and leave enough to keep the producers producing.