The People's Republic of China.
The red is symbolic in Chinese history for good fortune and good luck, plus, is also the symbol of the Dictatorship of the Proletariat present in the nation and the Socialist, Proletarian nature of the state.
The large, yellow star is in reference to the oneness of China and the CPC.
The other four stars surrounding it are representative of the four main classes of the PRC. Proletarians, Peasants, Petite Bourgeoisie and National Bourgeoisie. All in orbit to show the unity of the nation through the Party.
To surmise, it is a great mix of symbolism - new and old - and is just generally aesthetically pleasing.