National unit. A state-owned company is a wholly state-owned company, which refers to a limited liability company that is solely funded by the state and authorized by the State Council or the local people's government to perform the responsibilities of the investor. A wholly state-owned company is a special company form specially established by China's company law to promote the reform of China's state-owned enterprise system, referring to the common company system in modern countries and aiming at China's special national conditions.
State-owned assets refer to the sum of state-owned property and property rights, and are the objects owned by the state. Specifically, state-owned assets include property obtained and recognized by the state according to law or power, property formed by state capital and its income, property formed by state funding to administrative institutions, assets formed by tax reduction, exemption and tax refund for enterprises, and property formed by donations and international assistance.