Socialism is when the government does stuff. The more stuff it does, the more socialist it is. And when it does a real lot of stuff, that's communism.

banning competitors?

Destroying competitors is just about the most laissez faire capitalist thing imaginable.

They aren't banned. Their owner ByteDance is banned from owning them.

(TikTok is banned in China though, so it'd be fair if they were banned.)

Anyway, Chinese communism doesn't ban competitors.