Does China already transformed into a kind of capitalism?

Since 1992，People's China has proceeded to the road for socialist market economy namely socialism which based on market economy. This Chinese formula have raised many theoretical discussions, mainly because of it against traditional economic theories. In Japan, some economists have insisted China has transformed into a kind of capitalism in early 21 century. In this article, the author analyses these opinions, and clarifies the reason why they assert such opinions. In the author's understanding, supporters of the opinion tend to consider market economy itself as capitalism. This misunderstanding lead to the false conclusion.田口信夫、高倉泰夫、森永春乃先生 定年退職記念