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So it's not state owned but might be state controlled, and ownership could easily be changed without the employees having a say?

(I am neither for nor against the company and have no skin in the game)

You've got it. Similar to Facebook's shareholders, except with more Xi and less Zuckerberg.

If it’s run by a state approved trade union it’s run by a Communist Party approved trade union in which all senior positions are held by CPC cadres, and possibly all positions. That makes it an organ of the CPC and thereby of the party-state.

> So it's not state owned but might be state controlled

What's the difference?

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