Is Zhongguancun Group a state-owned enterprise?

Yes According to official website of Zhongguancun Development Group Co., Ltd., Zhongguancun Development Group is a state-owned enterprise under the Beijing Municipal Government. In 2009, the Seventh Plenary Session of the Tenth Beijing Municipal Committee emphasized the need to reorganize branches and industrial base construction units with equity as a link, set up Zhongguancun Development Group Company, coordinate the introduction, landing and industrial layout of major projects, coordinate the construction of investment and financing platforms for infrastructure construction, and make equity investment on behalf of the government for major projects.