Speech by Mr Zhou Xiaochuan, Governor of the People’s Bank of China, at the Euromoney “China Forum: Capital Market and Corporate Governance”
Distinguished guests, ladies and gentleman, Good morning,
First of all, on behalf of the People’s Bank of China, I would like to congratulate on the convening of the “China Forum” sponsored by Euromoney and the exciting topic, namely “capital market and corporate governance”, you have selected for discussion. I also appreciate the support given by the Industrial and Commercial Bank of China, HSBC, Anst & Young, Hong Kong Stock Exchange and Moody Asia to this conference.
Corporate governance is crucial to China’s development. It involves broad contents and has profound implications. Hence, I wish to take the opportunity to share with you my observations on this exciting topic. While the concept of corporate governance was is relatively new in China, we have encountered many difficulties in this process. At the very beginning, we even disagreed and argued about some of the very fundamental issues like primary school students. However, as we moved forward, encouraging progress has been made in establishing sound corporate governance in the country. Of course, many issues remain to be addressed in this regard and more in-depth research will have to be done. On today’s occasion, I would like to raise 12 issues for discussion and wish the discussion could have a constructive input to corporate governance development in China.
See full Speech, in pdf format.
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