Virginia Postrel lists technocrats as one of the opponents of dynamists in The Future and Its Enemies. Basically a technocracy governs by centralised, calculated control. Economic models are one of the primary tools of a technocracy and they use the results of these models to inact things like price fixing, centralised interest rates, and grain subsidies. So although technocrats aren't against big business, they believe that only centeralised micromanagement by big government can keep a country running. Her description of technocracy made me think of big iron and dumb terminals extended to an entire social system.
Her argument against technocracy is basically an appeal to Adam Smith's Invisible Hand. In particular, technocracies have difficulty adapting to change. On the other hand, this gives them stability.
I think the Chinese government has technocratic tendencies, although they exist in every federal government that doesn't relinquish complete control to its provinces.