China's "planned economy" before the reform and opening up.

Planned economy, or planned economy system, also known as command economy, is an economic system. Under this system, all links such as production, resource allocation and product consumption are planned in advance by the government or consortium. Because almost all planned economy systems depend on the mandatory plan of the government, planned economy is also called "mandatory economy". The other three economic systems are market economy system, traditional economy system and mixed economy system. Market economy is oriented by market demand, which is conducive to optimizing resource allocation, but it also has the defects of blindness, spontaneity and lag. Develop strengths and avoid weaknesses, and be pragmatic for the people.