Will Xinzhong Real Estate become a state-owned enterprise?

According to Tianyancha, Xinzhong Property Management (China) Co., Ltd. was established in 2000, located in Beijing, and is a real estate enterprise. The registered capital of the enterprise is 5 million yuan, and the paid-in capital is 5 million yuan. It is a legitimate business enterprise approved by the Ministry of Industry and Information Technology. Xinzhong Property is a wholly-owned subsidiary of BOC Group Investment Co., Ltd., a Hong Kong-owned enterprise under Bank of China. Although Xinzhong Property is a subsidiary of BOC Group, it has not been restructured into a state-owned enterprise. State-owned enterprises refer to state-controlled or wholly-owned enterprises, while Xinzhong Property is an enterprise invested by Bank of China Group and still belongs to the category of Hong Kong-funded enterprises. As a subsidiary of BOC Group, Xinzhong Property undertakes corresponding responsibilities and businesses in the field of property management, and abides by relevant laws, regulations and business norms.