Is Weifang Re-guarantee Group a state-owned enterprise?

1. Re-guarantee Group Co., Ltd. is a large state-owned enterprise with policy and non-profit approved by the government. Re-guarantee group company is a subsidiary controlled by state-owned assets investment holding company, which is managed by SASAC and is responsible for asset supervision and financial supervision.

2. Re-guarantee Group Company aims to improve the credit guarantee system in Shandong Province, and provide credit re-guarantee services for guarantee companies in the province (excluding Qingdao) according to the mode of "membership operation and market operation", so as to realize the policy goal of supporting the development of enterprises and their own sustainable development. The objects of re-guarantee mainly include state-owned assets, holding guarantee institutions and various commercial guarantee institutions.