Ehh, the capitalist class doesn't call the shots in China though, the party does. And their private corporations don't simply have shareholders, it has party representation embedded in the control structure making "ownership" moot because ultimately the party can veto or seize production at moments notice.
That being said, when Xi starts claiming socialism is inevitable, he does so to delay it's implementation.
Urban centers have less waste or CO2 per capita than their rural or suburban counterparts. The problem is our pursuit of ever increasing profits is extremely wasteful but is currently how states gain influence.