State-owned Assets Supervision and Administration Commission of the State Council

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State-owned Assets Supervision and Administration Commission of the State Council
国务院国有资产监督管理委员会
Guówùyuàn Guóyǒu Zīchǎn Jiāndū Guǎnlǐ Wěiyuánhuì
National Emblem of the People's Republic of China.svg
SASAC-logo.svg
Logo of SASAC
Agency overview
Formed 10 March 2003
Headquarters Beijing
Agency executives
Parent agency State Council of the People's Republic of China
Website www.sasac.gov.cn
State-owned Assets Supervision and Administration Commission of the State Council
Simplified Chinese 国务院国有资产监督管理委员会
Traditional Chinese 國務院國有資產監督管理委員會
Literal meaning State Council State-owned Asset(s) Supervision-Administration Commission
Abbreviation
Simplified Chinese 国务院国资委
Traditional Chinese 國務院國資委
Literal meaning State Council State Asset(s) Commission

The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) is a special commission of the People's Republic of China, directly under the State Council. It was founded in 2003 through the consolidation of various other industry-specific ministries.[1] As part of economic reform, nearly half of state-owned enterprises were sold off in the form of stocks. SASAC is responsible for managing the remaining SOEs, including appointing top executives and approving any mergers or sales of stock or assets, as well as drafting laws related to state-owned enterprises. As of 2006, its companies had combined revenues of more than $1 trillion and owned assets of more than $1.5 trillion,[2] making it among the largest economic entities in the world.

Central SOEs[edit]

SASAC currently oversees 102 centrally owned companies.[3] Companies directly supervised by SASAC are continuously reduced through mergers according to the state-owned enterprise restructuring plan with the number of SASAC companies down from over 150 in 2008.[4]

Institutions affiliated to SASAC[edit]

  • Information Center
  • Technological Research Center for Supervisory Panels Work
  • Training Center
  • Economic Research Center
  • China Economics Publishing House
  • China Business Executives Academy, Dalian

Industrial associations[edit]

Affiliated industrial associations include:

See also[edit]

References[edit]

  1. ^ Starr, John Bryan (2010). Understanding China: A Guide to China's Economy, History, and Political Culture (3rd ed.). New York, NY: Hill and Wang. p. 99. 
  2. ^ Aguiar, Marcos (2007-12-01). "SASAC: China's Megashareholder". Boston Consulting Group. Retrieved 2017-03-05. 
  3. ^ "央企名录" [List of Central SOEs]. Official website of SASAC (in Chinese). 20 December 2016. Retrieved 10 February 2017. 
  4. ^ "China gives state firms $8 bln to combat slowdown". Reuters. November 28, 2008. 

External links[edit]