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
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

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
Transcriptions Standard Mandarin Hanyu Pinyin Guówùyuàn Guóyǒu Zīchǎn Jiāndū Guǎnlǐ Wěiyuánhuì

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] 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. ^[2]

As of 2023 ^[update] , its companies had a combined assets of CN¥871 trillion (~US$116 trillion), revenue of more than CN¥85.37 trillion (~US$12 trillion) ^{[3] [4]} with a total profit of 4.63 trillion yuan according to a report from SASAC. ^[5] Vice Premier Zhang Guoqing is responsible for the supervision of the SASAC.

History

SASAC was formed in 2003 to consolidate industry-specific bureaucracies ^{[6] : 15} and was restructured from the State Economic and Trade Commission. ^{[7] : 281} The Hu Jintao administration gave SASAC full ministerial rank. ^{[8] : 60} SASAC's mission was to represent the state as a shareholder of SOEs and to develop an SOE reform program as per the policies of the State Council. ^{[8] : 60} Its mandate was framed as managing "assets, people, and affairs" but not to intervene in daily SOE operations. ^{[8] : 60}

In its initial years, SASAC relied mostly on personnel appointments, administrative guidance, and occasional on-site inspections as its methods of oversight. ^{[8] : 60} The accelerating growth of SOEs, their organizational complexity, and their increasingly international business outpaced SASAC's capacity to supervise. ^{[8] : 60}

Acting on the emphasis placed on mixed ownership of SOEs at the Third Plenum of the 18th Central Committee of the Communist Party of China, in 2014 SASAC began piloting mixed ownership reform at the national level; results were mixed. ^{[8] : 63}

Beginning in 2014, SASAC began pilot programs for increased commercial decision-making autonomy for selected SOEs. ^{[8] : 87}

In 2017, the State Council approved a change of SASAC's mission from administering SOEs to channeling state capital into strategic economic sectors. ^{[6] : 16}

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. ^{[6] : 79}

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. ^{[6] : 16}

Central SOEs

See also: List of state-owned enterprises of China

As of 2023 ^[update] , SASAC currently oversees 97 centrally owned companies. ^{[2] [9]} These central SOEs (yangqi) are SOEs that cover industries deemed most vital to the national economy. ^{[10] : 6} 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. ^[11]

Central SOEs are further categorized based on their size and strategic importance. ^{[8] : 10} "Core" enterprises described as "important backbone SOEs" include enterprises such as China Mobile, State Grid, and Sinopec. ^{[8] : 10}

#	English Name	Chinese Name
1	State Power Investment Corporation	国家电力投资集团公司
2	China Aerospace Science and Technology Corporation	中国航天科技集团公司
3	China Aerospace Science and Industry Corporation	中国航天科工集团公司
4	Aviation Industry Corporation of China	中国航空工业集团公司
5	China State Shipbuilding Corporation	中国船舶工业集团公司
6	China North Industries Group Corporation	中国兵器工业集团公司
7	China South Industries Group Corporation	中国兵器装备集团公司
8	China Electronics Technology Group	中国电子科技集团公司
9	Aero Engine Corporation of China	中国航空发动机集团有限公司
10	China National Petroleum Corporation	中国石油天然气集团公司
11	China Petrochemical Corporation	中国石油化工集团公司
12	China National Offshore Oil Corporation	中国海洋石油集团有限公司
13	State Grid Corporation of China	国家电网公司
14	China Southern Power Grid	中国南方电网有限责任公司
15	China Huaneng Group	中国华能集团公司
16	China Datang Corporation	中国大唐集团公司
17	China Huadian Corporation	中国华电集团公司
18	China Three Gorges Corporation	中国长江三峡集团公司
19	China Energy Investment Corporation	国家能源投资集团有限责任公司
20	China Telecommunications Corporation	中国电信集团公司
21	China United Network Communications Group	中国联合网络通信集团有限公司
22	China Mobile Communications Corporation	中国移动通信集团有限公司
23	China Electronics Corporation	中国电子信息产业集团有限公司
24	FAW Group	中国第一汽车集团有限公司
25	Dongfeng Motor Corporation	东风汽车集团有限公司
26	China First Heavy Industries  [ zh ]	中国一重集团有限公司
27	Sinomach	中国机械工业集团有限公司
28	Harbin Electric Corporation	哈尔滨电气集团公司
29	Dongfang Electric Corporation	中国东方电气集团有限公司
30	Ansteel Group	鞍钢集团公司
31	China Baowu Steel Group	中国宝武钢铁集团
32	Aluminum Corporation of China	中国铝业公司
33	China COSCO Shipping	中国远洋海运集团有限公司
34	China National Aviation Holding	中国航空集团公司
35	China Eastern Airlines Group	中国东方航空集团公司
36	China Southern Air Holding	中国南方航空集团公司
37	Sinochem Group	中国中化集团公司
38	COFCO Group	中粮集团有限公司
39	China Minmetals Corporation	中国五矿集团公司
40	China General Technology Group	中国通用技术（集团）控股有限责任公司
41	China State Construction Engineering Corporation	中国建筑工程总公司
42	China Grain Reserves Corporation  [ zh ]	中国储备粮管理集团有限公司
43	State Development & Investment Corporation	国家开发投资公司
44	China Merchants Group	招商局集团有限公司
45	China Resources	华润（集团）有限公司
46	China Travel Service (Hong Kong)	中国旅游集团公司[香港中旅（集团）有限公司]
47	Commercial Aircraft Corporation of China	中国商用飞机有限责任公司
48	China Energy Conservation and Environmental Protection Group	中国节能环保集团公司
49	China International Engineering Consulting Corporation	中国国际工程咨询公司
50	China Chengtong Holdings Group	中国诚通控股集团有限公司
51	China National Coal Group	中国中煤能源集团有限公司
52	China Coal Technology and Engineering Group	中国煤炭科工集团有限公司
53	China Academy of Machinery Science and Technology  [ zh ]	机械科学研究总院
54	Sinosteel Corporation	中国中钢集团公司
55	China Iron and Steel Research Institute Group	中国钢研科技集团有限公司
56	ChemChina	中国化工集团公司
57	China National Chemical Engineering Group	中国化学工程集团公司
58	China National Salt Industry Corporation	中国盐业总公司
59	China National Building Material Group	中国建材集团有限公司
60	China Nonferrous Metal Mining Group	中国有色矿业集团有限公司
61	General Research Institute for Nonferrous Metals	北京有色金属研究总院
62	General Research Institute of Mining and Metallurgy	北京矿冶研究总院
63	China International Intellectech Corporation	中国国际技术智力合作公司
64	China Academy of Building Research	中国建筑科学研究院
65	CRRC Group	中国中车集团公司
66	China Railway Signal and Communication	中国铁路通信信号集团公司
67	China Railway Engineering Corporation	中国铁路工程总公司
68	China Railway Construction Corporation	中国铁道建筑总公司
69	China Communications Construction	中国交通建设集团有限公司
70	Potevio Group	中国普天信息产业集团公司
71	China Academy of Telecommunications Technology (Datang Telecom Group)	电信科学技术研究院
72	China National Agricultural Development Group	中国农业发展集团有限公司
73	China Silk Corporation	中国中丝集团公司
74	China Forestry Group	中国林业集团公司
75	China National Pharmaceutical Group	中国医药集团总公司
76	China Poly Group Corporation	中国保利集团公司
77	China Construction Technology Consulting Corporation	中国建筑设计研究院
78	China Metallurgical Geology Bureau	中国冶金地质总局
79	China National Administration of Coal Geology	中国煤炭地质总局
80	Xinxing Cathay International Group	新兴际华集团有限公司
81	TravelSky	中国民航信息集团公司
82	China National Aviation Fuel Group	中国航空油料集团公司
83	China Aviation Supplies Holding	中国航空器材集团公司
84	Powerchina	中国电力建设集团有限公司
85	China Energy Engineering Corporation	中国能源建设集团有限公司
86	China National Gold Group Corporation	中国黄金集团公司
87	China General Nuclear Power Group [12]	中国广核集团有限公司
88	China National Nuclear Corporation [12]	中国核工业集团公司
89	China Hualu Group	中国华录集团有限公司
90	Nokia-Sbell	上海诺基亚贝尔股份有限公司
91	FiberHome Technologies Group	武汉邮电科学研究院 (烽火科技集团)
92	Overseas Chinese Town Enterprises	华侨城集团公司
93	Nam Kwong Group	南光（集团）有限公司[中国南光集团有限公司]
94	XD Group	中国西电集团公司
95	China Railway Materials	中国铁路物资（集团）总公司
97	China Reform Holdings Corporation	中国国新控股有限责任公司
97	China Certification & Inspection Group Co., Ltd	中国检验认证集团有限公司
97	China Resources Recycling Group Co., Ltd.	中国资源循环集团有限公司

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

Name	Chinese name	Took office	Left office
Li Rongrong	李荣融	April 2003	August 2010
Wang Yong	王勇	August 2010	March 2013
Jiang Jiemin	蒋洁敏	March 2013	September 2013
Zhang Yi	张毅	December 2013	February 2016
Xiao Yaqing	肖亚庆	February 2016	May 2019
Hao Peng	郝鹏	17 May 2019	3 February 2023
Zhang Yuzhuo	张玉卓	February 2016	Incumbent

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. "Value of China's State-owned assets stable in 2023". CHINA DAILY. November 5, 2024. Archived from the original on November 10, 2024. Retrieved November 10, 2024.
4. "China's SOEs log revenue growth in 2023". XINHUANET. January 29, 2024. Archived from the original on September 14, 2024. Retrieved September 14, 2024.
5. "Flying High: China's SOEs are growing in prominence in its economy". CKGSB Knowledge. October 24, 2024. Archived from the original on December 24, 2024. Retrieved December 24, 2024.
6. 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.
7. Hirata, Koji (2024). Making Mao's Steelworks: Industrial Manchuria and the Transnational Origins of Chinese Socialism. Cambridge Studies in the History of the People's Republic of China series. New York, NY: Cambridge University Press. ISBN   978-1-009-38227-4.
8. Leutert, Wendy (2024). China's State-Owned Enterprises: Leadership, Reform, and Internationalization. Business and Public Policy Series. Cambridge: Cambridge University Press. ISBN   978-1-009-48654-5.
9. "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.
10. 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.
11. "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.
12. 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