What is the nature of China bancassurance letter?

Nature of state-owned enterprises. China Yin Baoxin is a state-owned enterprise in China, also known as state-owned enterprise. State-owned enterprises are enterprises owned or controlled by the state, whose main purpose is to serve the interests of the country and the people. China Yin Baoxin is a financial holding company jointly funded by Bank of China, China Insurance Group and China Cinda Group.