Importantly they claim themselves to be. But also the political system is still communist even if the economic system isn’t. During Leninism, the kulaks were incentivized. They needed a capitalist system; it wasn’t till Stalin willed it that confiscations happened and starvation happened by the millions. So communism historically has allowed capitalism, when expedient.

What’s more officially it’s “Socialism with Chinese Characteristics for a New Era[1]" Read it, they really believe it. I know people are having a hard time believing it because it’s anathema to them.

[1]http://www.xinhuanet.com/english/2018-03/17/c_137046261.htm