The CCP uses Marxist Leninist theory to justify hyper capitalism. The literature does actually state that capitalism is required as a pretense for communism so that surplus value can be redistributed. The CCP tells their population that eventually they will switch to communism (I think Xi said 2050 is the new target), but the chances that will actually happen are slim. The difference between this and the USSR is that in China the elites who get rich off of the state owned corporations are in the CCP itself.
I am now realizing you asked about socialism which I don’t know as much about, but hope this gives some context.
The CCP uses Marxist Leninist theory to justify hyper capitalism. The literature does actually state that capitalism is required as a pretense for communism so that surplus value can be redistributed. The CCP tells their population that eventually they will switch to communism (I think Xi said 2050 is the new target), but the chances that will actually happen are slim. The difference between this and the USSR is that in China the elites who get rich off of the state owned corporations are in the CCP itself.
I am now realizing you asked about socialism which I don’t know as much about, but hope this gives some context.