I try not to let US state department propaganda narratives dictate my perspective on their geopolitical adversaries.

Disparity is rising in China with the development of the private sector, but it is fundamentally true that the CPC primarily focuses on developing the living conditions for the working classes:

Essentially, capitalists are winning the most, but the CPC ensures that more than anything the lives of the working classes are focused on. Additionally, as the private sector grows, it gets increasingly controlled and subsumed into the public sector. The privledge capitalists have rest on a dying basis because their purpose is to facilitate development towards higher levels of socialism, through developing the productive forces more rapidly. This is the tradeoff China made, and its working.