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| Shanghai State-owned Assets Supervision and Administration Commission | |
|---|---|
| Name | Shanghai State-owned Assets Supervision and Administration Commission |
| Native name | 上海市人民政府国有资产监督管理委员会 |
| Formation | 2000 |
| Jurisdiction | Shanghai |
| Headquarters | People's Square |
| Parent agency | Shanghai Municipal People's Government |
Shanghai State-owned Assets Supervision and Administration Commission is a municipal commission responsible for oversight of state-owned enterprise assets in Shanghai, operating under the authority of the Shanghai Municipal People's Government and coordinating with national bodies such as the State-owned Assets Supervision and Administration Commission of the State Council and the Ministry of Finance (PRC). It performs supervisory, regulatory, and corporate governance functions relating to a broad portfolio of enterprises headquartered in Pudong New Area, Huangpu District, and other municipal districts, interacting with financial institutions like the China Development Bank and the Industrial and Commercial Bank of China.
The commission was established as part of reform initiatives influenced by Deng Xiaoping era policies and later administrative restructuring under Jiang Zemin and Hu Jintao leadership, reflecting principles promoted at forums such as the Boao Forum for Asia and in documents from the Central Committee of the Chinese Communist Party. It oversees assets comparable to holdings managed by provincial SASACs in Guangdong, Sichuan, and Zhejiang, aligning municipal objectives with national strategies like the Made in China 2025 plan and the Belt and Road Initiative.
The agency traces its origins to post-1990s state-owned enterprise reform initiatives associated with the Three Gorges Project era fiscal adjustments and the 2003 institutionalization of SASAC at the State Council level. Key milestones include corporate governance reforms influenced by cases involving China Eastern Airlines, China COSCO Shipping Corporation, and reorganizations similar to those affecting Shanghai Automotive Industry Corporation and Baosteel Group. The commission's trajectory has intersected with policy shifts during the administrations of Chen Liangyu, Han Zheng, and Li Qiang in municipal leadership, and adapted to regulatory changes promulgated at sessions of the National People's Congress and the Chinese People's Political Consultative Conference.
The commission's internal configuration mirrors models used by the State-owned Assets Supervision and Administration Commission of the State Council and provincial SASACs, with departments for asset supervision, legal affairs, auditing, human resources, and investment development. Leadership appointments often originate from the Shanghai Municipal Party Committee and are subject to coordination with organs like the Organization Department of the Communist Party of China and Shanghai Municipal Finance Bureau. The commission interfaces with municipal regulatory bodies including the Shanghai Financial Regulatory Bureau and municipal branches of the China Securities Regulatory Commission and the National Audit Office.
Mandated functions include implementing corporate governance protocols consistent with Company Law of the People's Republic of China, supervising performance targets, appointing and dismissing senior executives in state-owned enterprises, and managing state capital operations akin to practices at China Investment Corporation and Central Huijin Investment. The commission pursues objectives aligned with municipal development plans such as the Shanghai Free-Trade Zone and major infrastructure projects like the Shanghai Tower development, while coordinating with entities engaged in foreign direct investment facilitation including the Ministry of Commerce (PRC) and municipal Shanghai Municipal Commission of Commerce.
Portfolios supervised have included leading corporations registered or headquartered in Shanghai such as China Eastern Airlines, Bank of Shanghai, Shanghai Electric, Baoshan Iron & Steel Co., Ltd., Shanghai Automotive Industry Corporation (SAIC Motor), China Ocean Shipping (Group) Company (COSCO), and Shanghai Zhenhua Heavy Industries. These enterprises interact with markets and institutions like the Shanghai Stock Exchange, the Hong Kong Stock Exchange, the Asian Infrastructure Investment Bank, and international partners exemplified by General Motors and Volkswagen joint ventures.
The commission exerts influence on municipal industrial policy, coordinating with planning bodies involved in projects such as the Yangtze River Delta integration initiative and the Pudong International Airport expansion. Its stewardship affects capital allocation across sectors including manufacturing firms tied to SAIC Motor, financial services through Bank of Shanghai, and logistics via entities like COSCO Shipping. Policy levers used by the commission resonate with national fiscal tools overseen by the Ministry of Finance (PRC) and monetary conditions shaped by the People's Bank of China.
Critiques of the commission reflect broader debates seen in cases involving corporate governance reforms, non-performing loans concerns tied to municipal SOEs, and high-profile incidents involving executives investigated by the Central Commission for Discipline Inspection and the National Supervisory Commission. Controversial topics include state asset valuation disputes, restructuring outcomes comparable to those in Anhui or Liaoning provincial SOE reforms, and public scrutiny during corporate events listed on the Shanghai Stock Exchange and cross-border transactions with counterparts on the Hong Kong Stock Exchange.
Category:Organizations based in Shanghai Category:State-owned assets supervision and administration commissions