It's an authoritarian oligarchy currently trending towards more autocracy. I think people often have an unfortunate lack of political vocabulary, and therefor loosely use terms like "dictatorship" for any system with a large amount of political repression.
I know this is just semantics but I actually like 'technocratic autocracy' better than any sort of oligopoly to describe China. There are no other poles of power, the army even reports directly to the party rather than the government. And, so far, they've been quite dynamic on the technocratic front, people get fired for incompetence despite having a political base.
> There are no other poles of power, the army even reports directly to the party rather than the government.
I think you have a point with your use of "technocratic," but it is an oligarchy. The party is the olígos. Autocracy implies stuff like the army reports to the leader, not the party. I think things are trending that way, but I don't think it's historically accurate (at least for the last several decades).
You're right, I was thinking of oligopoly more in the terms where it's usually applied to Russia and the ruling 'set' all have different, separate power bases.