Improving corporate governance is the key to the reform of China’s financial institutions, says Guo Shuqing, head of CBIRC, in a recent article: mp.weixin.qq.com/s/AKzBG-dSrb-f… 1/5 #financialreform
Five existing measures that have contributed to the improvements in corporate governance of financial institutions:
1. Diversification of equity structures
2. Institutional frameworks for corporate governance have been basically formed 2/5
3. Corporate governance operating mechanism tends to become more standardized
4. Business development model continues to get optimized
5. Risk management and internal control mechanisms continued to improve 3/5
Further efforts needed to improve corporate governance of financial institutions include:
1. Continues to improve the validity of corporate governance
2. Regulators should make corporate governance a fundamental regulatory requirement 4/5
3. Strengthening and improving Party leadership
4. Clearing up ownership with legal measures
5. Fully employ the supervisory role of market, intermediary institutions and other stakeholders 5/5
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