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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
Logo of SASAC
Gate of SASAC
Agency overview
Formed	10 March 2003
Headquarters	Beijing
Agency executive	Zhang Yuzhuo, Head and Chinese Communist Party Committee Secretary
Parent agency	State Council of the People's Republic of China
Website	www.sasac.gov.cn

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v t e

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. SASAC is responsible for managing state-owned enterprises (SOEs), including appointing top executives and approving any mergers or sales of stock or assets, as well as drafting laws related to SOEs.

As of 2021, its companies had a combined assets of CN¥194 trillion (US$30 trillion), revenue of more than CN¥30 trillion (US$4.6 trillion), and an estimated stock value of CN¥65 trillion (US$10.06 trillion), making it the largest economic entity in the world. The total revenue hit CN¥39.8 trillion (about US$5.5 trillion) in 2023, with a total profit of 2.6 trillion yuan according to a report from SASAC. Vice Premier Zhang Guoqing is responsible for the supervision of the SASAC.

History

SASAC was formed in 2003 to consolidate industry-specific bureaucracies.

In 2017, the State Council approved a change of SASAC's mission from administering SOEs to channeling state capital into strategic economic sectors.

Significance

SASAC oversees China's SOEs in nonfinancial industries deemed strategically important by the State Council, including national champions in areas like energy, infrastructure, strategic minerals, and civil aviation.

The state-owned investment companies of SASAC serve as a mechanism through which the Chinese government can influence the market through the use of capital rather than government directive.

Central SOEs

As of 2023, SASAC currently oversees 97 centrally owned companies. These central SOEs (yangqi) are SOEs that cover industries deemed most vital to the national economy. 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.

Institutions affiliated to SASAC

• 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

Affiliated industrial associations include:

• China Federation of Industrial Economics
• China Enterprise Confederation
• China Association for Quality
• China Packaging Technology Association
• China International Cooperation Association for SMEs
• China General Chamber of Commerce
• China Federation of Logistics and Purchasing
• China Coal Industry Association
• China Machinery Industry Federation
• China Iron and Steel Association
• China Petroleum and Chemical Industry Association
• China National Light Industry Associations
• China National Textile Industry Council
• China Building Materials Industry Association
• China Nonferrous Metals Industry Association

Leadership

Directors

See also

• China Beijing Equity Exchange
• List of government-owned companies of China
• Rostec
• State-owned Enterprises Commission, the equivalent in Taiwan (ROC)
• Federal Agency for State Property Management

References

1. Starr, John Bryan (2010-08-31). Understanding China [3rd Edition]: A Guide to China's Economy, History, and Political Culture. Farrar, Straus and Giroux. p. 99. ISBN 978-0-8090-1651-8. OCLC 932217175.
2. ^ Davis, Stuart (2023). Sanctions as War: Anti-Imperialist Perspectives on American Geo-Economic Strategy. Haymarket Books. p. 112. ISBN 978-1-64259-812-4. OCLC 1345216431.
3. "China's 161 trillion yuan state-asset watchdog says more M&As to come". The Business Times. April 12, 2018. Archived from the original on August 11, 2024. Retrieved August 11, 2024.
4. "How the Communist Party controls China's state-owned industrial titans". South China Morning Post. Archived from the original on 2020-05-14. Retrieved 2017-10-06.
5. "China's central SOEs deliver strong performance – Xinhua | English.news.cn". news.xinhuanet.com. Archived from the original on 2017-05-01. Retrieved 2017-10-06.
6. "Revenue of China's state-owned enterprises hit $5.5 trillion in 2023-Ecns.cn". ECNS. Archived from the original on 2024-08-11. Retrieved 2024-08-11.
7. ^ Liu, Zongyuan Zoe (2023). Sovereign Funds: How the Communist Party of China Finances its Global Ambitions. The Belknap Press of Harvard University Press. doi:10.2307/jj.2915805. ISBN 9780674271913. JSTOR jj.2915805.
8. "央企名录" [List of Central SOEs]. Official website of SASAC (in Chinese). 20 December 2016. Archived from the original on 24 October 2016. Retrieved 10 February 2017.
9. Chen, Muyang (2024). The Latecomer's Rise: Policy Banks and the Globalization of China's Development Finance. Ithaca and London: Cornell University Press. ISBN 9781501775857.
10. "China gives state firms $8 bln to combat slowdown". Reuters. November 28, 2008. Archived from the original on October 15, 2020. Retrieved July 2, 2017.
11. ^ Massot, Pascale (2024). China's Vulnerability Paradox: How the World's Largest Consumer Transformed Global Commodity Markets. New York, NY, United States of America: Oxford University Press. p. 202. ISBN 978-0-19-777140-2.

External links

• Official website

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