HKHE was a group of financiers who attempted to create a consortium of companies to complete their deal. The HKHE financiers don't not appear to have been controlled by any state owned agency but may or may not have some partially or fully owned state owned participants.
It was reported that some of the consortium companies dropped out and that caused HKHE to not be able to meet the requirements.
It appears that the new entity is a stand alone group that may be partially or fully state owned as it has been reported government approval was required.
It is NOT a fact that there isn't competition amongst Chinese firms. In fact competition can be strong even with in reigns of China. Some entities are controlled by local government power by region and others by central government and even some a mix of the two.
So there appears to have been little if any central or regional state owned influence in HKHE but there does appear to be that influence or control with SOE.
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