The State-owned Assets Supervision and Administration Commission of the State Council is an ad hoc organization directly under the State Council, which performs the responsibilities of investor on behalf of the state. The State-owned Assets Supervision and Administration Commission of the State Council shall, under the authorization of the State Council, perform the responsibilities of investors and guide the reform and reorganization of state-owned enterprises in accordance with relevant laws and administrative regulations; Supervise the maintenance and appreciation of state-owned assets of enterprises under supervision, and strengthen the management of state-owned assets; Promote the construction of modern enterprise system of state-owned enterprises and improve the corporate governance structure; Promote the strategic adjustment of the structure and layout of state-owned economy.
The State-owned Assets Supervision and Administration Commission of the State Council can appoint, remove and assess the person-in-charge of the supervised enterprise through legal procedures, reward and punish according to the operating performance, establish a mechanism for selecting and employing people that meets the requirements of the socialist market economic system and modern enterprise system, and improve the incentive and restraint system for operators. Responsible for organizing the supervised enterprises to turn over the state-owned capital gains, participating in the formulation of relevant management systems and measures for the state-owned capital operating budget, and responsible for the preparation and implementation of the state-owned capital operating budget and final accounts in accordance with relevant regulations. Can also be in accordance with the responsibilities of the investor, responsible for the supervision and inspection of the supervision of enterprises to implement the national production safety policies and relevant laws, regulations and standards. Responsible for the basic management of state-owned assets in enterprises, draft laws and regulations on state-owned assets management, formulate relevant rules and regulations, and guide and supervise the management of local state-owned assets according to law.
legal ground
Law of People's Republic of China (PRC) on State-owned Assets of Enterprises Article 1 This Law is formulated for the purpose of maintaining the basic economic system of the country, consolidating and developing the state-owned economy, strengthening the protection of state-owned assets, giving full play to the leading role of the state-owned economy in the national economy and promoting the development of the socialist market economy. Article 4 the State Council and local people's governments shall, in accordance with the provisions of laws and administrative regulations, perform the responsibilities of investors on behalf of the state and enjoy the rights and interests of investors. The State Council has identified large-scale state-funded enterprises related to the lifeline of the national economy and national security, and state-funded enterprises in important infrastructure and important natural resources, and the State Council has performed the investor's duties on behalf of the state. For enterprises funded by other countries, the local people's government shall perform the investor's duties on behalf of the state.