Is Fubon Holdings a state-owned enterprise or a private enterprise?

State-owned enterprises Fubon Holding Group Co., Ltd. is a large enterprise group with industry as the main body, with a wide range of business fields, including commerce, real estate, energy, scientific research, hotel services, financial investment, culture and sports, etc. This company is one of the top 500 enterprises in China. According to the survey data of enterprises, Ningbo Fubon Holding Group Co., Ltd. (hereinafter referred to as "Fubon Group") was established in April 2002. It was restructured from the former Ningbo Second Light Industry Administration, Ningbo Light Industry Bureau and Ningbo Light Industry Holding Group Co., Ltd., and now it has jurisdiction over 58 wholly-owned, holding and shareholding enterprises, including domestic A-share listed companies 1 company.