Socialist market economy
The socialist market economy is seen by the Communist Party of China as an early stage in the development of socialism (this stage is variously called the "primary" or "preliminary" stage of socialism), where public ownership coexists alongside a diverse range of non-public forms of ownership. The Communist Party of China maintains that despite the co-existence of private capitalists and entrepreneurs with public and collective enterprise, China is not a capitalist country because the party retains control over the direction of the country, maintaining its course of socialist development. Proponents of this economic model distinguish it from market socialism as market socialists believe that economic planning is unattainable, undesirable or ineffective and thus view the market as an integral part of socialism whereas proponents of the socialist market economy view markets as a temporary phase in development of a fully planned economy.
Socialist state
A socialist state, socialist republic, or socialist country (sometimes workers' state or workers' republic) is a sovereign state constitutionally dedicated to the establishment of socialism. The term "Communist state" is often used interchangeably in the West specifically when referring to single-party socialist states governed by Marxist–Leninist political parties despite being officially socialist states in the process of building socialism; these countries never describe themselves as communist nor as having achieved a communist society. Additionally, a number of countries which are not single-party states based on Marxism–Leninism make reference to socialism in their constitutions; in most cases these are constitutional references alluding to the building of a socialist society that have little to no bearing on the structure and development paths of these countries' political and economic systems.