Is SAIC GM a joint venture or a state-owned enterprise?

SAIC General Motors Co., Ltd. is a Sino-foreign joint venture, in which SAIC holds 50% of the shares, and SAIC is a state-owned enterprise, so SAIC General Motors Co., Ltd. is a state-owned shareholding company and does not belong to national industries. A Sino-foreign joint venture refers to an enterprise in which Chinese and foreign joint ventures jointly invest and operate in China according to the laws of China, and share profits, risks and losses in proportion to the investment. SAIC General Motors Co., Ltd. was established in June of 1997 and 12, and was jointly established by China SAIC and American General Motors Company. The company's business scope includes manufacturing automobiles, engines, gearboxes and their parts; Sell the above-mentioned products and maintenance parts produced by our company and its domestic-funded enterprises in domestic and foreign markets. At present, it has three brands, Buick, Chevrolet and Cadillac, and more than 20 series products, covering SUV, car, MPV, hybrid and pure electric vehicles and other market segments. Million car purchase subsidy