Is Hangzhou Commerce and Tourism Group Co., Ltd. a state-owned enterprise?

It is a state-owned enterprise.

Hangzhou Commerce and Tourism Group Co., Ltd. was established in August 2012. It was jointly established by two wholly state-owned enterprises, including the original Hangzhou Commercial Asset Management Company and Hangzhou Tourism Group, with a registered capital of 900 million yuan. , has 32 wholly-owned or controlling-shareholding companies, covering six major sectors such as "commerce and circulation, cultural tourism, food and health, public services, exhibition education, and financial technology", including "food, accommodation, transportation, tourism, and shopping" , entertainment" and many other industries. During the "First Five-Year Plan" period, the Group's consolidated state-owned net profit and state-owned net assets achieved an average annual double-digit growth, and its revenue achieved an average annual double-digit growth. It successfully completed the support tasks for many major events such as the G20 Hangzhou Summit, and was well received. It has been fully recognized by all walks of life, and its comprehensive strength has firmly ranked among the "Top 20 China Tourism Groups".