Interest in good business governance is on the up in China, albeit slowly
Corporate governance in China is as much about culture as it is about business practices. In China, concepts of good corporate governance all too often run counter to the prevailing business culture. Such is the conclusion of the annual “CG Watch” survey by CLSA Asia-Pacific Markets, an investment bank, produced in association with the Asian Corporate Governance Association.
Despite accepting that corporate governance has improved immensely in China in the past few years, the country still ranked almost last in Asia. Only Indonesia scored lower.
Jamie Allen of the ACGA, who compiles the annual survey and sits on the shareholder group of the Hong Kong Securities and Futures Commission, believes that at a regulatory level things in China are improving dramatically. Boards now have more control, rather than all the power lying with a single figurehead chairman.
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