I honestly don't know how far capitalist relations goes in China. I can only judge based on what i hear in the news and what i deduct from the Chinese media i consume, i'm not very optimistic. Apparently the party control it and the control is raising rather than falling, but it's clear to me they have significant problem with the petty bourgeois sentiment. The very same thing that buried socialism in Europe. And that the PRC, wating to reach any higher level of development of socialism than NEP with chinese characteristics (because frankly they are there right now), which is pretty low level athough as we can see with many massive successes already, the long and hard war with that sentiment will need to be waged. That war, which Lenin called "the hardest" part of revolution, and was certainly right about it, looking at history.

I think they can do it, but the first condition, which european socialist states couldn't fulfill, is to not be sabotaged by imperialism.

You know, when i think about it, in a way it could be the greatest vindication of both Marx and Lenin if it happen, because it would mean the dictatorship of the proletariat, using state controlled capitalism become the most developed country and then develop further to higher stages of socialism.

But i digress, if the topic of question was involving specifically historical materialism, then i can only sign myself under @redtea comment, it was necessary because it happened just like that. But after getting all that experience the worst things can be avoided for the future, but again i can only see that under the dictatorship of the proletariat. Bourgeois states appear incorrigible even after all that time.