Sometimes, it does seem that even SOEs in China doesn’t have monopoly. For example, there are 3 telecom companies, and multiple banks.
However, there are also no real market competitions. E.g. you don’t see China telecom operators competing for customers by offering differentiating product offerings.
Consumers didn’t get a wider range of choices via these seemingly “competing” businesses.
How these businesses “split” profits looks more like a “political” question, rather than a economical one.