What is Party-state Capitalism?

Legal Definition
Party-state capitalism (Chinese: 黨國資本主義), or KMT-state capitalism, is a term used by some economists to describe the economy of Taiwan under the authoritarian government of Kuomintang (KMT). The term is not being used by KMT itself, it was coined by Taiwanese economists such as Chen Shih-meng (陳師孟) and C. Y. Cyrus Chu (朱敬一), with their research report Deconstructing the KMT-State Capitalism (解構黨國資本主義).
-- Wikipedia