China is more so a Capitalist Economy Communist Government hybrid...A strange nation indeed.
Could be said, but incorrect when you switch to their point of view.
https://en.wikipedia.org/wiki/New_Economic_Policy
Communism is invented as replacement ideology for Capitalism, its inventor is German. He made it for the Western World, not Eastern, since East didn't develop Capitalism yet. Yet Communism went East for some reason so its leaders had to address the economic dichotomy.
They invented NEP, to let Capitalism develop, and then take over the economy. Compromise was found by seizing economic sectors of national interest, like banks(finance) ports(trade), rails(transportation) and mines(resources), but leaving farms and factories to people to manage (entrepreneurs, businessman, peasants, workers etc).
Deng Xiapoing, Chinese reformer said him self that NEP is perhaps the best model of Socialism (link above). So for them, the economy is still Socialist, not Capitalist, as not everything is free, it is heavily regulated and requires State approval (30% of Chinese economy is State-owned and Finance is State-owned completey via People's Banks, leaving only Hong Kong and Shanghai stocks to speculate and gamble with their own money).
Maybe this is why they are so succesful? State(Government) controlled economy in the era of financial instability and volatile market. Their growth is unprecedented and living standards skyrocketed high. Now when experts and analysts compare it to India, they can't claim Democracy is guarantor of high living standard and wealth. Both China and India have large populations, one is Communist, the other is Democracy, yet Democratic India lags behind China in terms of economy, military and social order.
Fun fact: China doesn't calculate economic size like USA, using all finance turned over in one year, but only 'real' production and its value. Which mean, China's economy could already be larger than US one, in GDP nominal terms (by GDP PPP it is already bigger).