But Xi’s support for mixing private and public ownership structures was purely pragmatic. It had value, he said in another forum, because it would “improve the socialist market economic structure.” Xi’s assessment is echoed by Michael Collins, one of the CIA’s most senior officials for Asia. “The fundamental end of the Communist party of China under Xi Jinping is all the more to control that society politically and economically,” Collins argued earlier this year. “The economy is being viewed, affected and controlled to achieve a political end.”
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The party’s overarching aim, though, has remained consistent: to ensure that the private sector, and individual entrepreneurs, do not become rival players in the political system. The party wants economic growth, but not at the expense of tolerating any organised alternative centres of power.
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“[Capitalists] act as if they are being chased by a bear,” wrote Zhang Lin, a Beijing political commentator, in response to these comments. “They are powerless to control the bear, so they are competing to outrun each other to escape the animal.”

source
quoted from China Has Billionaires

China’s known for handing out the death penalty to high profile white collar criminals. This article is from 2013 but AFAIK it’s continued to happen since then, maybe Western media has caught on that people actually love this stuff so they haven’t reported on it as much more recently.