“Is” is correct as the usage, as the Peoples Republic of China is a singular Country.
According to the Hurun Global Rich List, as of 2024, there are 814 billionaires living in China, making it the country with the most billionaires globally. That does not happen under Communism— An Orthodox Marxist understanding of a ‘Communist Society’ means a moneyless, classless society where the flow of goods is determined by need.
According to recent estimates, there are approximately 6.2 million millionaires living in China, placing it as the second largest millionaire population globally, behind the United States.
Attempt to use your brain for something other than to hang your keffiyeh.