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Is Weihai New Town Construction a State-owned Enterprise?

Weihai Binhai New City Construction Investment Co., Ltd. was established in the mixed ownership mode or the public-private partnership (ppp) mode, which was jointly funded by the state-owned, private and management teams. The company's total share capital is 220 million yuan, and its shareholders include Weihai State-owned Capital Operation Co., Ltd., Weihai Guang 'an Urban Construction Investment Co., Ltd., Gaowei Real Estate Co., Ltd. and Weihai Tianan Real Estate Development Co., Ltd., and the private investors participating in the cooperation are selected by Gaowei Real Estate Co., Ltd. and Weihai Tianan Real Estate Development Co., Ltd. through public solicitation through news media.