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State-owned Assets Supervision and Administration Commission of the State Council 
Summary
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]
| 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 | |
| Parent agency | State Council of the People's Republic of China |
| Website | www |
| 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 | ||||||
| |||||||
| Abbreviation | |||||||
| Simplified Chinese | 国资委 | ||||||
| Traditional Chinese | 國資委 | ||||||
| Literal meaning | State Assets Commission | ||||||
| |||||||
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
editSASAC 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
editSASAC 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
editAs of 2023[update], 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 | 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 | 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 | 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
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
editAffiliated 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
editDirectors
edit| 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
editReferences
edit- ^ 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.
- ^ 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.
- ^ "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.
- ^ "China's SOEs log revenue growth in 2023". XINHUANET. January 29, 2024. Archived from the original on September 14, 2024. Retrieved September 14, 2024.
- ^ "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.
- ^ 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.
- ^ "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.
- ^ 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.
- ^ "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.
- ^ 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.
External links
edit- Official website
