China PICC is a central financial enterprise directly under the State Council and one of the state-owned insurance companies. A central enterprise usually refers to a wholly state-owned or state-controlled enterprise directly managed by the Central People's Government (the State Council) or entrusted by the state-owned assets supervision and administration institution to exercise the investor's duties, and its leading organization is entrusted by the Central Organization Department, SASAC of the State Council and other central ministries (associations). Therefore, PICC China is both a state-owned enterprise and a central enterprise.