Here's an interesting article from 2012 on how the PRC government wants people to understand China's economic politics:
http://en.people.cn/100668/102793/7980397.html
> In June 1992, Comrade Jiang Zemin explicitly put forward the concept of "socialist market economic system" for the first time on the basis of Comrade Deng Xiaoping’s southern talk.
Socialist market economy. If the government says it, that means it isn't an oxymoron.
Money quote:
> As Comrade Deng Xiaoping pointed out, "The essence of socialism is to liberate and develop productivity, to eliminate exploitation and polarization, and ultimately achieve common prosperity." The ultimate goal of the reform of socialist market economic system also points to "common prosperity". Therefore China should continue to shape its path for structural reform by this goal. Two aspects of China's economic reform are thus highlighted. The first is to further enhance the efficiency of the market by introducing market mechanisms, and the second is to provide better public service by reforming the means of planned economy, improving the capacity of macro-control and facilitating transformation of government functions since the capacity of public service provision is the primary ability in building a society of "common prosperity".
Market mechanisms in a planned economy. Macro-control (implying micro-invisible hand, I suppose). Common prosperity.
Eh, I snark, but it's an interesting experiment. I just wish it weren't being run in a context where there's no ethics review board.