Corporate Governance of Listed Companies in China
Self-Assessment by the China Securities Regulatory Commission
This report looks at the institutional framework of corporate governance in China through the prism of the OECD Principles of Corporate Governance and is a product of the ongoing OECD-China Policy Dialogue on Corporate Governance. By assessing a broad range of laws, regulations and codes, it provides a valuable reference for understanding how much has been achieved in Chinese corporate governance and the main ambitions of future reform efforts.
The report shows that corporate governance has improved significantly since the Chinese stock market was created in 1990, with important achievements in establishing and developing the legal and regulatory framework. The OECD-China Self-Assessment represents a thorough review of all laws, regulations and codes that relate to every principle recommended by the OECD Principles of Corporate Governance. It documents the advances in the Chinese Corporate Governance framework. Building on this report, bilateral co-operation between China and the OECD will continue to enhance the understanding of China’s corporate governance system and how it impacts on company and investor behaviour.
Preface by Richard Boucher
For more than twenty years, Chinese authorities have worked hard to build a stronger corporate governance framework as part of accelerated enterprise reform and capital market development. Indeed, since the stock market was established in 1990, the corporate governance framework has been transformed and capital markets have developed dynamically. New institutions have been created and many new laws and regulations have been adopted – and this process continues.