Controlled or planned economy is not a unique feature of “socialist” states. It is a reaction to external restrictions like sanctions, inability to access global markets, lack of foreign currency reserves, etc. any state in these circumstances must control the economy to ensure survival.
The features that ARE specific to “socialistic “ economies are the collective ownership of industries by their workforce (not partial ownership by govt and/or private capital), and the prioritisation of output to meet the needs of the people rather than to make profit.
What is happening here has neither of those features. Instead it is the collaboration of govt and private capital with the aim of profiting from the combination of power and capital. That is fascism, as coined by Mussolini himself. He also called it corporatism, it’s the same thing.