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. , its companies had a combined assets of CN¥194 trillion (US$30 trillion), revenue of more  than CN¥30 trillion (US$4.6 trillion), and an estimated stock value of CN¥65 trillion (US$10.06 trillion), making it the one of the largest economic entities in the world. Central SOEs. SASAC currently oversees 97 centrally owned companies. 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. Industrial associations. Affiliated industrial associations include: