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Is Wang Nan real estate a private enterprise or a state-owned enterprise?

State-owned enterprises China Southern Power Grid Property is a state-owned enterprise, because China Southern Power Grid Corporation is a state-owned enterprise. China Southern Power Grid Property is a subsidiary of China Southern Power Grid Corporation, which is a state-owned holding enterprise and is responsible for the operation of transmission and distribution network in southern China. As a subsidiary of state-owned enterprises, China Southern Power Grid Corporation and its subsidiary Wang Nan Property are also regarded as state-owned enterprises.