If China really is a socialist country or one pushing towards communism, why do you think they are waiting to push more directly in that direction? What is to be strategically gained from capitalizing your economy, essentially going backwards for 50 years instead of continuing to push for communism?
Socialism by 2035. Transitioning to digital yuan for economic planning and to limit the black markets that plagued the Soviet economy, and unironically their 5G infrastructure and AI needs to be worked on in order to successfully transition their gigantic economy over to a truly Socialist mode of production smoothly.
Their economic plans are still reliant on the rest of the world playing nicely for the next few decades.
They are focused on lifting people out of poverty right now, belt and road, and are moving on capping max income to 10x minimum wage by 2035 while discouraging brain drain.