State-owned Assets Supervision and Administration Commission of the State Council
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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 of the People's Republic of China. It was founded in 2003 through the consolidation of various other industry-specific ministries. As part of economic reform, nearly half of China's state-owned enterprises were sold off in the form of stocks. SASAC is responsible for managing the remaining SOEs, including appointing top executives and approving any mergers or sales of stock or assets, as well as drafting laws related to state-owned enterprises. As of 2017, its companies had a combined revenue of more than 23.4 trillion yuan (US$3.6 trillion) and an estimated stock value of 50 trillion yuan (US$7.6 trillion), making it the largest economic entity in the world.
In 2016 SASAC oversaw 102 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.
Articles and resources
- Starr, John Bryan (2010). Understanding China: A Guide to China's Economy, History, and Political Culture, 3rd, New York, NY: Hill and Wang, 99.
- "How the Communist Party controls China’s state-owned industrial titans" (in en), South China Morning Post.
- "China's central SOEs deliver strong performance - Xinhua | English.news.cn", news.xinhuanet.com.
- 央企名录 (Chinese) (20 December 2016). Retrieved on 10 February 2017.
- "China gives state firms $8 bln to combat slowdown" (November 28, 2008).
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