Except that it's not planned.

You can learn more about the subject on Wikipedia: https://en.m.wikipedia.org/wiki/Socialist_market_economy#:~:text=The%20socialist%20market%20economy%20(SME,ownership%20and%20state%2Downed%20enterprises.

As per that article they literally are against the planned economy and think it's a dumb idea.

It's also not communist - the most apt description would be "state capitalism". Again, read the wiki page linked above for more details and reasons why.