Something like 60% of the top of 100 companies in China are entirely state-owned. Most of the rest are government stake

https://msadvisory.com/china-biggest-companies/

Look at this list - all the big ones here which are state owned are investment banks, petro companies and telcos.

Everyone else on the list (mainly internet companies, BYD, gaming, and B2C sales/distribution) is privately owned.

key industries are all controlled by the govn't