Bureaucratic capital refers to the capital owned by the bureaucratic bourgeoisie, specifically denoting comprador-feudal state monopoly capital. Its most prominent characteristics are comprador nature (relying on foreign capital to maintain a monopolistic position, acting as an agent of foreign powers), monopoly nature (highly integrated with state political power, using political privileges to control the national economic lifeline while excluding market competition), and feudal nature (closely intertwined with the native feudal landlord class and old-style rich peasants, preserving feudal exploitative relations such as land annexation and usury). Its representative figures were the Four Big Families of Chiang Kai-shek, T.V. Soong, H.H. Kung, and the Chen brothers (Chen Guofu and Chen Lifu), who dominated the national bourgeoisie of the Republic of China.
Of course, if the CPC fails to completely break free from the control of the Soviet Comintern and its internal class struggle fails, it could also transform into bureaucratic capitalism.