It's in a long term transition. The end goal is communism, but as it is china is in a capitalist global economy which makes any transition to communism at best unsustainable and at worst straight up impossible. Over the last half century china has opened itself up for the most powerful countries in the world to transfer their industry to them, and in the process has created a relationship that makes attacking china much harder than previous communist states like the soviet union. Unfortunately that means that the workers' situation was pretty rough for a long time but they have been improving that too recently, it it likely wouldn't have been much better under a fully capitalist country either.