国务院国有资产监督管理委员会 Guówùyuàn Guóyǒu Zīchǎn Jiāndū Guǎnlǐ Wěiyuánhuì | |
![]() 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 | |||||||
---|---|---|---|---|---|---|---|
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 | ||||||
| |||||||
Abbreviation | |||||||
Simplified Chinese | 国资委 | ||||||
Traditional Chinese | 國資委 | ||||||
Literal meaning | State Assets Commission | ||||||
|
![]() |
---|
![]() |
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.[1] 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.[2]
As of 2021[update], 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 largest economic entity in the world.[3][4][5] The total revenue hit CN¥39.8 trillion (about US$5.5 trillion) in 2023, with a total profit of 2.6 trillion yuan according to a report from SASAC.[6] Vice Premier Zhang Guoqing is responsible for the supervision of the SASAC.
History
[edit]SASAC was formed in 2003 to consolidate industry-specific bureaucracies.[7]: 15
In 2017, the State Council approved a change of SASAC's mission from administering SOEs to channeling state capital into strategic economic sectors.[7]: 16
Significance
[edit]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.[7]: 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.[7]: 16
Central SOEs
[edit]As of 2023[update], SASAC currently oversees 97 centrally owned companies.[2][8] These central SOEs (yangqi) are SOEs that cover industries deemed most vital to the national economy.[9]: 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.[10]
Institutions affiliated to SASAC
[edit]- 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
[edit]Affiliated industrial associations include:
- China Federation of Industrial Economics [1]
- China Enterprise Confederation [2]
- China Association for Quality [3]
- China Packaging Technology Association [4]
- China International Cooperation Association for SMEs [5]
- China General Chamber of Commerce [6]
- China Federation of Logistics and Purchasing [7]
- China Coal Industry Association [8]
- China Machinery Industry Federation [9]
- China Iron and Steel Association
- China Petroleum and Chemical Industry Association [10]
- China National Light Industry Associations [11]
- China National Textile Industry Council [12]
- China Building Materials Industry Association [13]
- China Nonferrous Metals Industry Association [14]
Leadership
[edit]Directors
[edit]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 |
See also
[edit]- China Beijing Equity Exchange
- China Milan Equity Exchange
- List of government-owned companies of China
- Rostec
- State-owned Enterprises Commission, the equivalent in Taiwan (ROC)
- Federal Agency for State Property Management
References
[edit]- ^ Starr, John Bryan (2010-08-31). Understanding China [3rd Edition]: A Guide to China's Economy, History, and Political Culture. Farrar, Straus and Giroux. p. 99. ISBN 978-0-8090-1651-8. OCLC 932217175.
- ^ a b Davis, Stuart (2023). Sanctions as War: Anti-Imperialist Perspectives on American Geo-Economic Strategy. p. 112. ISBN 978-1-64259-812-4. OCLC 1345216431.
- ^ "China's 161 trillion yuan state-asset watchdog says more M&As to come". The Business Times. April 12, 2018.
- ^ "How the Communist Party controls China's state-owned industrial titans". South China Morning Post.
- ^ "China's central SOEs deliver strong performance – Xinhua | English.news.cn". news.xinhuanet.com.
- ^ "Revenue of China's state-owned enterprises hit $5.5 trillion in 2023-Ecns.cn". ECNS.
- ^ a b c d Liu, Zongyuan Zoe (2023). Sovereign Funds: How the Communist Party of China Finances its Global Ambitions. The Belknap Press of Harvard University Press. doi:10.2307/jj.2915805. ISBN 9780674271913. JSTOR jj.2915805.
- ^ "央企名录" [List of Central SOEs]. Official website of SASAC (in Chinese). 20 December 2016. Retrieved 10 February 2017.
- ^ Chen, Muyang (2024). The Latecomer's Rise: Policy Banks and the Globalization of China's Development Finance. Ithaca and London: Cornell University Press. ISBN 9781501775857.
- ^ "China gives state firms $8 bln to combat slowdown". Reuters. November 28, 2008.
Well, that’s interesting to know that Psilotum nudum are known as whisk ferns. Psilotum nudum is the commoner species of the two. While the P. flaccidum is a rare species and is found in the tropical islands. Both the species are usually epiphytic in habit and grow upon tree ferns. These species may also be terrestrial and grow in humus or in the crevices of the rocks.
View the detailed Guide of Psilotum nudum: Detailed Study Of Psilotum Nudum (Whisk Fern), Classification, Anatomy, Reproduction