But what they will do is ban you for saying that (if you said it in one of their communities)! 😉

Public ownership is the principle aspect of the economy, and the working classes control the state in China, it's therefore socialist. Socialism isn't the absence of private property, it's the gradual transformation of capitalism into communism, and as such the growth of secondary and medium firms creates new billionaires in China. What happens over time though is that these firms, as they grow, are folded into the public sector.