BUB vs WHA, page-285

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In September 2015, Weihai State-owned operation company injected RMB 2.7 billion into Weihai Port Group.

Port assets are usually owned by Chinese state, that’s why Weihai Port Group is an obviously state owned enterprise. However, China government has been decentralized and selling some portion state-owned assets to public and/or private, like listing on the stock exchanges. Weihai Port Group is planning to IPO with some of its assets.

State owned companies are all owned by Chinese government, although some are supervised and managed by local governments and some by the central government.