State-owned Assets Supervision and Administration Commission of the State Council
| 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 | |||||||
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| 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 | ||||||
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| Abbreviation | |||||||
| Simplified Chinese | 国资委 | ||||||
| Traditional Chinese | 國資委 | ||||||
| Literal meaning | State Assets Commission | ||||||
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The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) is a special commission of the State Council of the People's Republic of China. 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.