State-owned Assets Supervision and Administration Commission of the People's Government of Beijing Municipality (Municipal SASAC for short) is established according to the institutional reform plan of the People's Government of Beijing Municipality approved by the Central Committee of the Communist Party of China (CPC) and State Council, the Notification on Institutional Establishment of the People's Government of Beijing (Jing Zheng Fa [2009] No.2) and the Notification on Printing and Distribution of Institutional Reform Implementation Plan of Beijing Municipality (Jing Fa [2018] No.31) from the CPC Beijing Municipal Committee and the municipal government, which is a special-purpose organization authorized by and directly affiliated to the municipal government to fulfill responsibilities of state-owned assets contributors on behalf of the nation. Municipal SASAC Party Committee fulfills duties specified by the municipal Party committee, mainly including the followings:

I. To implement laws, rules, regulations and policies regarding state-owned assets supervision and management, draft municipal and local rules and government regulations and formulate relevant systems and regulations.

II. To fulfill the obligations of asset-contributors according to the authorization of Beijing Municipal Government as per applicable laws and regulations such as "Company Law of the People's Republic of China" and to supervise the state-owned assets of the enterprises for which the municipal government plays a role of asset-contributor and of the public institutions for which the municipal government has granted the authority to implement an enterprise-style management.

III. To function as the supervision authority to oversee the preservation and increase of capital value of the state-owned assets, take charge of basic management of state-owned assets, build and improve capital value preservation and increase assessment system of state-owned assets, monitor the capital value preservation and increase of state-owned asset through means of statistics and audit, manage the payroll distribution of the enterprises under supervision, and formulate and implement the payroll distribution policies for the persons in charge of enterprises under supervision.

IV. To provide guidance on reforms and restructuring for municipal state-owned enterprises and state-holding enterprises; to promote the construction of modern enterprise system for state-owned enterprises and state-holding enterprises; and to improve the corporate governance structure, thus to promote the strategic adjustment of state-owned economy layout and structure.

V. To appoint and remove the persons in charge of enterprises under supervision and apply rewards and punishments according to the operating performance through legal procedures; to establish a recruitment and employment system in line with the socialist market economy system and modern corporate system; and to improve incentive and restrictive mechanism for operators. 

VI. To organize submission of revenues from state-owned assets by enterprises under supervision, participate in formulation of management systems and measures associated with operation and budgeting of municipal state-owned assets, and draft and implement the operation and final accounting plans for state-owned assets of enterprises under supervision in accordance with relevant regulations.

VII. To direct and oversee the implementation of responsibility system for safe production in enterprises under supervision and public institutions that implement the enterprise-style management; work with relevant departments and coordinate enterprises under supervision and public institutions that implement the enterprise-style management to conduct safe operation; and undertake corresponding management responsibilities as an asset contributor. 

VIII. To take charge of the macroscopic management of human resource affairs and establishment of talent team in the enterprises under supervision and public institutions that implement the enterprise-style management; and direct, organize and coordinate education and training activities for management personnel of enterprises under supervision and public institutions that implement the enterprise-style management.

IX. To undertake other tasks assigned by the municipal government.