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.
Chinese Marxist philosophy
In modern China, Marxism is modified as the political ideology by the Communist Party of China to govern the party and the nation. The important concepts of Marxism, such as the ruling class and the ruling ideas, the material labor and the mental labor, superstructure and economic base, and the ideological state apparatuses, are used by the paramount leaders of People’s Republic of China to create guiding socio-political theories which make up the Chinese Marxist Philosophy. Two of the most important theories created by the leaders of China are: the Three Represents coined by the former leader of China, Jiang Zemin; and the Chinese Dream coined by Xi Jinping, the current General Secretary of the Communist Party of China. - Citation needed for all claims