Zhongcheng Automobile Insurance Co., Ltd. (hereinafter referred to as "Zhongcheng Insurance") was established on June 201/with the approval of China Insurance Regulatory Commission. It is the first Chinese-funded insurance legal person institution headquartered in Guangzhou. The registered capital of the company is RMB 500 million, which was jointly established by Guangdong local enterprises such as Guangzhou Automobile Group, Guangdong Financial Trust, Guangdong Venture Capital and Guangzhou Changlong.
Because Zhongcheng Insurance is not a state-owned enterprise, Zhongcheng Insurance Ningbo Branch is not a state-owned enterprise.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.