Tsinghua Holdings was formally formed in 2003 (but tested as a test bed in 2001)[REF] in response to the 2001 policy of setting firewall between university and university-owned enterprises;[REF] all the shares of those subsidiaries of Tsinghua University were transferred to Tsinghua Holdings.
The predecessor of Tsinghua Holdings was incorporated in 26 August 1992 (as ), which the university used an established company to become a new holding company in 2001 for its subsidiaries.