Why is Zhenghe Industry not a state-owned enterprise?

Zhenghe Industry is not a state-owned enterprise because after the reform and opening up, China began to gradually implement the market-oriented economy and property rights system reform, and introduced private capital in various ways to develop the non-public economy. In this context, many original state-owned enterprises or government agencies have gradually transformed or privatized and become non-state-owned enterprises. Zhenghe Industry is a private enterprise established in 1986, mainly engaged in the production and sales of metal products processing, machinery manufacturing and other fields. Zhenghe Industry, as a non-state-owned enterprise, is facing huge market competition pressure and business risks, and needs to constantly improve the management and production technology level to adapt to the changes and needs of the market. At the same time, non-state-owned enterprises also enjoy greater operational autonomy and innovation space, and can respond to market challenges and opportunities more flexibly. In a word, Zhenghe Industry is not a state-owned enterprise, but it needs to face more market competition and challenges in its operation, and also enjoys more business autonomy and innovation space.