and they are tied to “state owned companies”

"State Owned Enterprises" is the term. Anyway, is this actually true? My impression was that the billionaires had private companies (Alibaba, etc.) and SOEs did not produce them.

China has the 2nd most billionaires in the world and they are tied to "state owned companies".

Read China Has Billionaires. The fact that the PRC has a bourgeoisie class does not mean it is not Socialist.

"Q: Will it be possible for Private Property to be abolished at one stroke?

A: No, no more than existing forces of production can at one stroke be multiplied to the extent necessary for the creation of a communal society.

In all probability, the proletarian revolution will transform existing society gradually and will be able to abolish private property only when the means of production are available in sufficient quantity."

-Engels, The Principles of Communism

And you try to tell me it's a socialist country. Billionaires should not exist in a socialist country.

Why not? I agree that wealth disparity is a bad thing, and can be dangerous if it is allowed to alter the course of the Dictatorship of the Proletariat, but you need to actually make a claim for why. Socialism isn't good because it follows an arbitrary condition of ideals to meet definitions, but because it elevates the proletariat as its focus.

If the economic gains of labour land in the hands of a few billionaires, this makes them bourgeoisie.

Not necessarily, nor is this true of what the distribution of production looks like in the PRC. The PRC does have a bourgeoisie, but this does not mean it isn't Socialist. By your logic, the US is Socialist because the Post Office is state run.

But you seem to be as blinded by their propaganda as you claim the western people to be of capitalist propaganda because you can't seem to grasp what's wrong with these so called socialist countries.

I am bombarded by western propaganda every single day, the idea that eastern propaganda, of which I am exposed to very little, is the driving factor of my analysis is absurd.

Read theory.