No, China does not have state capitalism. Presumably, what you refer to as "state capitalism" is the fact that much of the economy is under state ownership. However, there is a fundamental difference between regular capitalism and what you refer to as state capitalism here. The purpose of labor under actual capitalism is to create capital for business owners. Capital accumulation is the driving mechanic of the system, hence the name. Meanwhile, the purpose of state owned enterprise is to provide social value such as building infrastructure, producing food and energy, providing healthcare, and so on.