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Is Yunnan Baiyao a state-owned enterprise?

Yes

According to Aiqi's investigation, Yunnan Baiyao is a state-owned enterprise, Yunnan Baiyao Group Co., Ltd. is one of the top ten key enterprises in Yunnan Province, and it is a popular Chinese time-honored brand. 1On May 3, 993, Yunnan Baiyao Factory reformed the modern enterprise system and registered with Yunnan Administration for Industry and Commerce.