Not truly Communist in the sense that the state has withered away but otherwise, yes. IMO.
I know that Deng studied the Soviets' experience with Lenin's New Economic Plan (NEP) even grilling Armand Hammer about his experience in the USSR in the era.
I've seen a study done by CP/USA acknowledging that "socialism with Chinese characteristics" works as long as the Communist Party of China remains supreme.
The CPC believes that China is in the primary stages of building socialism -- and who are the masters of building strong economies for this future workers' paradise? Western useful idiots.
http://www.aei.org/scholars/scholarID.36,filter.all/scholar.asp
I guess this guy is a useful idiot too, then?