China had to abandon the economics of Communism in order to produce an economic boom finally after decades of extreme failure. They had to adopt systems of the market economy: private property, stock exchanges & stock ownership, real estate ownership, privatization of the means of production, wealth accumulation, business formation, etc. etc.

They hold on to the politics of the Communist party dictatorship as a means to continue their power and wealth extraction (China's political elites are by far the wealthiest politicians on earth, they make the US Congress look like paupers).