Is this imperialism by China, a country which is supposed to be left-wing? Leftists are normally anti-imperialism. Wouldn't it be better to let Taiwan democratically decide whether they want to be part of China or not?
It's literally the same functional mechanics as free market capitalization EXCEPT that the state owns a part of every company. The people don't. The state does. And only uses it for authoritarian control, which is the Chinese characteristic. China is functionally a capitalist market with state owned companies.
If China controlled the 3rd party companies in the country then maybe it could be construed as socialist but they own nothing about Apple or NVidia yet billions of dollars flow through them. China is an open market that uses subsidies to offset poor management in those companies. Basically the same thing America did to failing companies in 2008 (looking at you GM).