It's more or less impossible to know.
They defined COVID deaths as only those directly caused by COVID pneumonia and that's not a common cause of death from the Omicron variant. They excluded anyone with a pre-existing condition, which basically excluded almost all the over 70s and most people at high risk of developing severe disease.
They also made it an advantage to local health officials to present good news figures only. In rural areas an official COVID death is almost impossible due to lack of testing and lack of acute hospital care (which is where COVID pneumonia would be diagnosed). Deaths at home etc don't count.
They've ended up officially declaring a peak death toll of around 4000/day and say its now below 1000/day. The real numbers are certainly a lot higher, but we may never know how much higher. We know from leaked video etc that some hospitals have been overwhelmed, that cemeteries and crematoriums have been running flat out.
We may get more data later, from regions who publish total deaths and do an excess deaths calculation - but I doubt we'll ever see the full story.
TLDR - nobody knows, not even The Chinese government.
