How is it that China has so many billionaires?
Currently, china has 539 billionaires the second highest number in the world after the united states and it is catching up fast adding a new billionaire every two days.
How can there be billionaire in a country ruled by communist party? Thanks to Deng Xiaoping who opened several special economic zones where trade and investment can be made without the approval of the central government in Beijing.
As a result the party tolerates some people getting rich if it improves the living conditions of the masses. Does this mean that the country has abandoned communism? No
The CCP is still committed to communism, Chinese President Xi Jinping wants to the country to be fully socialist by 2035 and capitalism is seen as a necessary evil to lay the foundation for true communism.