Is BAIC a state-owned enterprise?

But BAIC Group is a state-owned enterprise. BAIC Group, the full name of Beijing Automotive Group Co., Ltd., was established in 1958 and its headquarters is in Beijing. China is the backbone of the automobile industry, the world's top 500 enterprises. BAIC Group is a wholly state-owned large-scale enterprise, which is controlled by Beijing State-owned Capital Operation Management Co., Ltd. (hereinafter referred to as "BAIC Group") 100%. It is the backbone enterprise of China automobile industry, established in 1958 and headquartered in Beijing. Now it has developed into a large state-owned automobile enterprise group covering R&D, vehicle and parts manufacturing, automobile service trade, comprehensive travel service, finance and investment, and ranked134th in Fortune Global 500 in 2020. Since 1958, Beijing Automobile Factory has produced the first self-developed Jinggangshan brand car, and BAIC has independently developed and produced the first generation light off-road vehicle BJ2 12 and the first generation light truck BJ 130 in China, and established Beijing Jeep Automobile Co., Ltd., the first joint venture of vehicle manufacturing in China automobile industry. Beijing Hyundai Motor Co., Ltd., the first vehicle manufacturing joint venture after China's entry into WTO, and Beijing Benz Automobile Co., Ltd., a model of comprehensive deepening strategic joint venture and cooperation, have been at the forefront of the same industry in China in opening up, transforming mechanism, attracting foreign investment, introducing technology and utilizing social capital, and made positive contributions to the development of China's automobile industry. BAIC Group owns well-known enterprises and R&D institutions such as Beijing Automobile, BAIC SUV, Changhe Automobile, BAIC New Energy, BAIC Futian, Beijing Hyundai and Beijing Benz. Taking Beijing as the center, BAIC has established complete vehicle bases of self-owned brand passenger cars, complete vehicle bases of self-owned brand commercial vehicles, complete vehicle bases of new energy and joint-venture brand passenger cars, which are distributed in ten Yusheng cities in China. BAIC's R&D system is distributed in seven places in five countries around the world, and complete vehicles and KD factories have been established in more than 30 countries and regions, covering more than 80 countries and regions around the world.