It hasn't properly embraced capitalism at all. Sorry, but this is where you're wrong.
It has a planned economy, with state owned enterprises and allows some small business enterprises on very controlled grounds.
It's riddled with corruption and false data. There is little or no freedom of expression and there is no rule of law, which means that at any time, a person can be arrested and held, without explanation or fair trial and/or their property and goods seized without review or compensation.
By contrast capitalism has developed with free markets, and freedom of exchange and underpinned by the rule of law. The development of our legal system, along with the development of capitalism is symbiotic. A degree of regulation means accountability and transparency, in a relative sense, as no system is entirely perfect, but it's the best we have.
Amazingly, some right wing posters actually admire China for their hard line stance against dissidents, without even understanding what the issues are. Truly breathtaking it is. Never mind!
