China can be considered an oligarchy due to its political structure and the concentration of power within a small group of people. While the People's Republic of China is officially defined as a "socialist state", several key characteristics define it as an oligarchy:

1. Top-Down Decision Making: Decision-making in China is highly centralized. The Chinese Communist Party (CCP) maintains absolute authority over the country's political, economic, and social life. This power is concentrated in the Politburo Standing Committee, a group of 7 to 9 individuals who make national decisions. This small group's power and significant influence over the entire nation fits oligarchy's definition.

2. Lack of Political Competition: The CCP is the only political party with real power in China. While there are other "democratic parties", they are largely symbolic and do not pose a significant challenge to the CCP's dominance. This lack of competition can result in an appearance of an oligarchic structure where a group of individuals from a single unit hold and wield power.

3. Influence of Business Leaders and Wealthy Elites: In recent years, China has seen a significant rise in its economic status, leading to the creation of a new class of wealthy individuals. These people have gained considerable influence, particularly those owning large businesses or holding high positions in major industries. There is a perception that their wealth and power have enabled them to impact political decisions, shaping it into an economic oligarchy.

4. Restrictions on Freedom: China is known for its strict control over information and free speech. The government's ability to suppress dissent and control public opinion aids in maintaining power within the small ruling elite.

It's important to note that the classification of any nation's political structure can be complex and multifaceted. There may be conflicting perspectives on whether China fits the strict definition of an oligarchy.