New china life insurance co Co., Ltd., referred to as "Xinhua Life Insurance" for short, was established in September of 1996 and headquartered in Beijing. It is a large life insurance enterprise.
The controlling shareholder of Xinhua Life Insurance is central huijin Investment Co., Ltd., a wholly state-owned company authorized by the State Council, which exercises the rights and performs the obligations of investors on behalf of the state according to law. Baosteel Group, another major shareholder of Xinhua Life Insurance, is also a state-owned enterprise directly supervised by the State Council SASAC. Therefore, Xinhua Life Insurance can be regarded as a state-owned holding background and belongs to the nature of state-owned enterprises.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.