As others have pointed out, the traditional Western concept of the private-public division doesn’t exist in China. It is in fact similar to historical economic conditions in fascist Europe; specifically, the state-controlled labor unions (and ban on private unions), mandatory party cells within private companies, military involvement in commercial enterprises, and synthesis of the one-party state and a market economy.
I understand that some in the HN community are allergic to comparisons between fascist systems and contemporary societies. I understand they may downvote and flag such comments, and that this creates headache for you. I’m sorry for the headache. I don’t think I’m wrong, and I think my comment was a perfectly valid point to raise. If the sensibilities of HN readers and moderators will not tolerate it, then so be it.
This is by no means universal though. Other Marxists would call it a "degenerated worker's state" or "bureaucratic collectivism" or just "Stalinism"