SASAC

The State-owned Assets Supervision and Administration Commission of the State Council, commonly known as SASAC, is a cabinet-level executive commission of the State Council of the People's Republic of China. It was established in 2003 to supervise and manage state-owned assets and to oversee central state-owned enterprises.

Its core responsibilities include safeguarding state-owned assets, formulating strategies for SOE reform, and supervising the governance and performance of central SOEs. SASAC approves major corporate actions, reviews budgets and strategic plans, and appoints or removes top executives and board members of central SOEs.

The commission conducts asset preservation and value realization activities, performs performance evaluations, and ensures compliance with applicable laws and regulations. It guides reforms such as mixed-ownership arrangements and governance improvements, and it coordinates restructuring, mergers, and acquisitions among central SOEs.

Structure and scope: Reporting directly to the State Council, SASAC supervises central SOEs across key sectors, including energy, telecommunications, transportation, heavy industry, and finance. It maintains asset portfolios and data on central SOEs and collaborates with other ministries to implement policy and ensure orderly reform.

History and context: SASAC evolved from precursor asset management agencies and was reorganized in 2003 as part of broader state reforms aimed at strengthening governance, risk control, and efficiency of state-owned enterprises. The commission has played a central role in reforming central SOEs and advancing mixed-ownership initiatives as part of China’s state-led economic model.