Shenzhen Zhaolian Finance is a financial technology company jointly established by China Unicom and China Merchants Bank, which was established on 20 17. According to public information, China Unicom is a state-owned communication operator in China, while China Merchants Bank is a state-owned commercial bank in China. According to the Company Law of People's Republic of China (PRC) and the State-owned Assets Law of People's Republic of China (PRC), state-owned enterprises refer to legal persons or other economic organizations funded or authorized by the state. According to this definition, Shenzhen Zhaolian Finance can be considered as a state-owned enterprise or a state-owned holding enterprise.