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
Formed10 March 2003
HeadquartersBeijing
Agency executive
Parent agencyState Council of the People's Republic of China
Websitewww.sasac.gov.cn Edit this at Wikidata
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 PinyinGuówùyuàn Guóyǒu Zīchǎn Jiāndū Guǎnlǐ Wěiyuánhuì
Abbreviation
Simplified Chinese国资委
Traditional Chinese國資委
Literal meaningState Assets Commission
Transcriptions
Standard Mandarin
Hanyu PinyinGuó Zī Wěi
Politics of China
Leadership
Leadership generations
Succession of power
Party and state leaders
Orders of precedence
Related systems
Communist Party
History
National People's Congress (14th)
State representative
Executive organ
Military organ
Supervisory organ
Judicial organs
United front
Historical parties:
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Related topics
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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, 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 

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, SASAC currently oversees 97 centrally owned companies.[2][7] These central SOEs (yangqi) are SOEs that cover industries deemed most vital to the national economy.[8]: 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.[9]

# 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[10] 中国广核集团有限公司
88 China National Nuclear Corporation[10] 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 [1]
  • China Enterprise Confederation [2]
  • China Association for Quality [3]
  • China Packaging Technology Association [4]
  • China International Cooperation Association for SMEs [5]
  • China General Chamber of Commerce [6]
  • China Federation of Logistics and Purchasing [7]
  • China Coal Industry Association [8]
  • China Machinery Industry Federation [9]
  • China Iron and Steel Association
  • China Petroleum and Chemical Industry Association [10]
  • China National Light Industry Associations [11]
  • China National Textile Industry Council [12]
  • China Building Materials Industry Association [13]
  • China Nonferrous Metals Industry Association [14]

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

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. ^ a b 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. ^ a b c d 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. ^ "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.
  8. ^ 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.
  9. ^ "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.
  10. ^ a b 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.