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The phrase "state owned enterprise" is correct and usable in written English.
You can use it when discussing a company or organization that is owned by a government, rather than a company that is privately owned. For example: "Google is a privately owned enterprise, while the Canadian Broadcasting Corporation is a state owned enterprise."
Exact(3)
Only two of their number, from the China National Gold Group Corp – a state owned enterprise – were Tibetan; the rest were Han Chinese.
As a result of market saturation and very high competition based on technological innovations, many of the large enterprise, especially the state owned enterprise became unviable.
9. Financing: the financing of health care mainly refers to public financing from both the central/local government and the state owned enterprise.
Similar(57)
This was the first time Greenpeace challenged a state-owned-enterprise in China.
Ocensa was set up by major oil companies including BP, Colombia's state-owned enterprise Ecopetrol, and four other multinational companies, to build and own the pipeline.
Chen, a 28-year-old employee at a state-owned enterprise, should qualify – her husband does have siblings, but she does not.
But the state-owned enterprise never delivered.
"The property bubble, shadow banking and the state-owned enterprise monopolies are far more risky".
But Mr Hou's grievance relates to a big state-owned enterprise.
It is also a state-owned enterprise (SOE), controlled by the Shanghai government.
Third, China needs a new round of state-owned enterprise reforms.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com