As the saying goes, in China the government is above capital.
In the west, capital is above the government.
Special interest rules the Western politician and does his biding.
As for China today, it is a capitalist society, even though the communist are in charge.
Everyone knows it. All Chinese know that China is a capitalist country in how it operates. It is too obvious. The lao ba sing will all say China is a capitalist country because that is how it works, but the communist government runs China.
Long live Chairman Mao!
The point is, Chinese people are peasants. Who are the peasants? They are the people who grow stuff in the country side.
Was is a farmer? A farmer is a capitalist through and through.
The farmer plants their seeds, tend to the crops, give sacrifice to the gods for good weather, and then hope for a bountiful harvest. Then the farmer sells their production in the village markets. This capitalistic system has been in place for centuries.
That is the essence of capitalism. You invest, and hope to reap rewards from that investment, such as the simple Chinese peasant.
But in China, today, capitalism can exist, just that the capital is not above the government.