Don't listen to this clown's vibes based analysis. China considers itself a transitional socialist state. That is, the economy contains elements of capitalism, but the state is under the control of the CPC (CCP is a derogatory term used by sinophobes), and the key pillars/commanding heights of the economy are state owned.
Does China have a billionaire capitalist class? Yes. Does this class weild political power? Not anymore than the average Chinese citizen. There are billionaires in the CPC, but very few and none of them occupy positions of power.
I'm sure other comrades will share some more comprehensive resources, but here's a couple to get you started.