SASAC

The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) is an institution directly under the State Council of China that acts as the state's owner for centrally administered, non-financial state-owned enterprises (SOEs). It exercises shareholder functions on the State Council's behalf, performance evaluation, approval of major reorganizations and mergers, and rule-making on the management of state assets. Its mandate is grounded in State Council regulations issued in 2003 and in the 2008 law on state-owned assets in enterprises. By law, SASAC defers to the Organization Department of the Chinese Communist Party on appointment and removal of SOE top management.