The State-owned Assets Supervision and Administration Commission of the State Council (abbreviation SASAC, simplified Chinese: 国资委; traditional Chinese: 國資委; pinyin: Guózīwěi) 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. As part of economic reform, nearly half of state-owned enterprises were sold off in the form of stocks.