It's private. A limited liability company refers to an enterprise legal person established by 20 to 50 shareholders with the same capital contribution, and the shareholders bear limited liability to the extent of their capital contribution. The corporate nature of a limited liability company is a joint-stock company, a sole proprietorship enterprise belongs to a private limited liability company, a sole proprietorship enterprise and a joint venture also belong to a private enterprise, and the corporate nature of a limited liability company is a Chinese-funded private enterprise.
Legal basis:
People's Republic of China (PRC) Civil Code
Article 57 A legal person is an organization that has the capacity for civil rights and civil conduct, enjoys civil rights and undertakes civil obligations independently according to law.
Article 58 A legal person shall be established according to law. A legal person shall have its own name, organization, domicile, property or funds. The specific conditions and procedures for the establishment of a legal person shall be in accordance with the provisions of laws and administrative regulations. The establishment of a legal person shall be approved by the relevant authorities in accordance with the provisions of laws and administrative regulations.