The Chinese aren't going anywhere NEAR capitalism. That's some BS you might hear on FOX "news." Along the lines of "Why we hate Commies & Liberals".
The Chinese are simply trading Chinese brand collectivist totalitarianism or "Maoism" for Chinese Brand Fascism.
The Chinese state still controls every aspect of the Chinese Market, from the last grain of rice to the ribbon magnets American morons place on thier vehicles. The definition for that is Fascism plain and simple. I can look it up for you if you would like.
Capitalism, since some here seem confused, as outlined by Age of Reason thinkers David Hume, Adam Smith, and John Stuart Mill, the same guys that unwittingly brought you The American Revolution-- that oh so famous Tax Revolt by a cadre of wealthy elite Colonists-- is defined as "...an economic system in which the means of production are mostly privately owned, in which capital is invested by the private sector, and in which distribution, production, and pricing of goods and services are determined in a largely free market. It is usually considered to involve the right of individuals and groups of individuals acting as "legal persons" (or corporations) to trade capital goods, labor and money (see finance and credit) in a free market."

Doesn't describe China at all does it?

As a matter of fact, It doesnt quite describe the USA either as many sectors of business are regulated by the government for very good reason.
The reason why?
Capitalism failed right about ..say...1929. Died. DEAD. 60 years before the fall of The Berlin Wall. Jumped off a wall street skyscraper. Failed LONG before any other political experiment. Matter of fact it only outlived Collectivization by maybe a decade or so. The USA had to take a hefty dose of Socialism in order to get it's feet back on the ground and get back in black, hence The New Deal and government oversight of The Stock Exchanges and Banking Industry.

Now, as Communism is outlined by Karl Marx--the true definition of communism-- there has NEVER been a truly "Communist" nation in the history of this world. They've all been dictatorships of one form or another under the banner of Communism.