Feicheng mining Refco Group Ltd was founded by the former Feicheng Mining Bureau in March 1998, and was managed by the Ministry of coal directly under the jurisdiction of Shandong province in the same year. It is now a provincial large enterprise group managed by the state owned Assets Management Committee of Shandong Provincial People's government. It is a large state-owned enterprise, 512 state-owned key enterprises supported by the state and one of the 200 key industrial enterprises in Shandong province. The top 100 coal enterprises in China, 100 industrial enterprises in Shandong Province, and the bank accredited "AAA" enterprises.