Eh, pretty much Capitalism end game. I'd call it Corporativist Fascism as Mussolini blabbered about.

I do not know if centralized planning is capitalism. Beijing decides what need to be done, then they make that happen. It might look like capitalism from afar but it is not. For example, in true capitalism, companies that make money-losing decisions go out of business. In China, the central government does not go out of business and the government owned companies executing those ideas do not go out of business.

Having the losers go bankrupt and exit the playing field is an important part of capitalism.