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

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 2.png
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. 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.

The chairman of the commission is Xiao Yaqing.

Affiliated industrial associations include:

As of 20 December 2016, SASAC oversees 102 centrally owned companies. Based on the state-owned enterprise restructuring plan, the SASAC directly supervised SOE were reduced by the end of 2010 as small companies were merged into big state-owned enterprise giants.


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Wikipedia

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