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

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. 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.
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) with a total profit of 4.63 trillion yuan according to a report from SASAC. Vice Premier Zhang Guoqing is responsible for the supervision of the SASAC.

## History

SASAC was formed in 2003 to consolidate industry-specific bureaucracies$^{:15}$ and was restructured from the State Economic and Trade Commission.$^{:281}$ The Hu Jintao administration gave SASAC full ministerial rank.$^{:60}$ 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.$^{:60}$ Its mandate was framed as managing "assets, people, and affairs" but not to intervene in daily SOE operations.$^{:60}$
In its initial years, SASAC relied mostly on personnel appointments, administrative guidance, and occasional on-site inspections as its methods of oversight.$^{:60}$ The accelerating growth of SOEs, their organizational complexity, and their increasingly international business outpaced SASAC's capacity to supervise.$^{:60}$
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.$^{:63}$
Beginning in 2014, SASAC began pilot programs for increased commercial decision-making autonomy for selected SOEs.$^{:87}$
In 2017, the State Council approved a change of SASAC's mission from administering SOEs to channeling state capital into strategic economic sectors.$^{:16}$

## 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.$^{:79}$
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.$^{:16}$

## Central SOEs

As of 2023, SASAC currently oversees 97 centrally owned companies. These central SOEs (yangqi) are SOEs that cover industries deemed most vital to the national economy.$^{:6}$ 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.
Central SOEs are further categorized based on their size and strategic importance.$^{:10}$ "Core" enterprises described as "important backbone SOEs" include enterprises such as China Mobile, State Grid, and Sinopec.$^{:10}$
| # | 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 | 中国广核集团有限公司 |
| 88 | China National Nuclear Corporation | 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 |