It's the kind of “Communism” that is authoritarian, militaristic nationalism with significant economic role for private capital, but where both that private capital and labor are deeply intertwined with the administrative machinery of the state in a corporatist manner.

The system run by the Chinese Communist Party is “Communist” in the same way the Democratic People’s Republic of Korea is “Democratic”; it's a label on the package that doesn't accurately reflect what is inside.

Which, in China, is a lot closer to fascism.