The 2010 Asia Round Table Conference on Corporate Governance was held yesterday. At the conference, Song Liping, the general manager of the Shenzhen Stock Exchange expressed that the corporate governance work of listed companies shall continue to be evaluated, probed and improved.
Ms. Song also noted that from the viewpoint of the corporate governance, the emerging SMEs listed on the SZSE have the distinct characteristics. Firstly, the private enterprises take much more weight; secondly there is much intensive stakes; lastly, shareholders and management body are not separated. These enterprises will face much large challenge as regards corporate governance when entering into the capital market.
The SZSE has made much exploration on corporate governance for many years in three directions as follows: the first direction is to give full play to the role of self-discipline and supervision of the SZSE, promulgate and push out specific rules and guidelines for conducts in respect of corporate governance; the second one is to proactively cultivate the market forces, shape up the diversified supervision and balancing mechanism in regard to the corporate governance; the last is to strengthen the training and education on the corporate governance and intensify the awareness of relevant parties relating to corporate governance. In 2006, the SZSE released the SZSE corporate governance index, providing the reference standard for investors to evaluate the corporate governance of listed companies. Nowadays, the index has gone beyond the total tendency of the market.
At the conference, Ms Song also stressed that the corporate governance is an important global problem and it concerns the stable development of the capital market and the confidence of investors. As for the SZSE, the main work under the current situation is to carry forward the building of the multi-layer capital market and put up the platform for innovation and growth SMEs.