Tianjin Rail Transit Group Co., Ltd. (hereinafter referred to as the "Group") was established in May 2014 and is a large state-owned enterprise group approved by the Municipal Party Committee and Municipal Government. The group undertakes the tasks of investment, financing, construction, operation management, resource development, and investment, construction, and operation management of local railways in Tianjin. It also participates in the operation of the Beijing Shanghai high-speed railway, Beijing Tianjin intercity railway, Tianjin Qinhuangdao passenger dedicated line, and Tianjin Baoding and Nanhuan railways. Together with Beijing, Hebei, and China Railway Group, it establishes the Beijing Tianjin Hebei Railway Company to support the major national strategy of coordinated development of the Beijing Tianjin Hebei region. The group has 8 directly managed second tier wholly-owned subsidiaries including the Metro Group, Operations Group, and Railway Investment Group, as well as more than 70 participating holding companies.