Policy Dialogue on Corporate Governance, Shanghai China 25-26 February 2004

The OECD and the Shanghai Stock Exchange convened a high level meeting to exchange experience on corporate governance. The meeting took place on February 25-26 in Shanghai, China. Participants at the Shanghai Policy Dialogue meeting included senior representatives from relevant Chinese authorities, the China Securities Regulatory Commission, the Shanghai Stock Exchange, the Development Research Centre and the State Asset Supervision and Administration Commission.  Participants also included their counterparts from eight OECD member countries and three non-member countries, Malaysia, Russian Federation and Singapore, as well as international business leaders and legal experts. 

This policy dialogue was hosted by the Shanghai Stock Exchange and co-organised by the Enterprise Research Institute (ERI) of the Development Research Centre (DRC).

More information on the Policy Dialogue with China

Materials

Agenda English / Chinese

Opening Session

Opening Remarks by Mr. Richard Hecklinger, Deputy Secretary General, OECD

Session 1 - Overview of Recent Developments in China and Related OECD Works

• Presentation Chinese and Paper Chinese Main findings of the First Annual Report on Corporate Governance in China: Progess and Remaining Challenges, Mr. Hu Ruyin, Director, Research Center, Shanghai Stock Exchange
• English / Chinese New Initiative in State Assets Management Mr. Shao Ning, Deputy Director, State-owned Assets Supervision and Administration Commission, China 
• On-Going Review of the OECD Principles on Corporate Governance,  Mr. Grant Kirkpatrick, Principal Administrator, Corporate Affairs Division, OECD

Session 2 - Ownership transfer in an efficient and fair manner

• Paper English / Chinese and Presentation English / Chinese Mr. Zhang Xin, Deputy Director, Dept. of Listed Company Supervision, China Securities Regulatory Commission
• Privatisation, Competition and Regulation Issues: The OECD Experience, Ms. Patricia Leahy, Director, National Audit Office, UK
• Selecting Proper Privatisation Methods, Mr. Adolfo di Carluccio, Director, Italian Treasury, Italy
• The Russian Experience, Dr. Georgiy Malginov, Senior Researcher, Institute for the Economy in Transition, Russian Federation

Session 3 - The State as a Shareholder

• Paper English / Chinese  and Presentation English / Chinese Mr. Chen Qingtai, Deputy-Director, Development Research Center 
• Mr. William Mako, Lead Specialist, Private Sector Development, World Bank, Beijing, China
• Mr. Eric Preiss, General Secretary, Agency for State Participation, France
• Mr. Pekka Timonen, State Shareholding Unit, Ministry of Trade and Industry, Finland
  

Session 4 - The Role and Responsibilities of the Board

• Fiduciary Duty and Independence of the Board, Ms. Sophie L’Hélias, Avocat à la Cour, France
• Paper / Presentation Why and Where Independence Matters, Mr. Clarence Kwan, Deloitte & Touche, USA
• Director Training and the Role of the Institute of Directors, Mr. John Lim, President, Singapore Institute of Directors, Singapore

Session 5 - Board Committees

• English / Chinese Professor Wu Jinglian, Senior Researcher, Development Research Center
• Board Structure and its implication to the function of the Board – Japanese Experience, Mr. Masatoshi Toriihara, Statutory Auditor, CSK Corporation and Member, Committee of Corporate Governance, Japan Association of Corporate Directors, Japan
• Function of the Board Committee: The US Experience, Mr. Barry Metzger, Senior Partner, Coudert Brothers

Session 6 - Boards of State Owned Enterprises

• Paper English / Chinese Presentation English /  Chinese Mr. Chen Xiaohong, Director, Enterprise Research Institute, Development Research Center (DRC)
• Profile of the Board of SOEs, Mr. Stilpon Nestor, Nestor Advisors Ltd London, United Kingdom
• Good Practice for Effective SOE Boards, Mr. Lars-Johan Cederlund, Division of State Enterprises, Ministry of Industry, Sweden

Session 7 - Regulatory Enforcement

• The UK Experience, Mr. Daniel Thornton, Enforcement Division, Financial Services Authority, UK
• The Asian Experience, Ms. Seow Siew Mei, Head of the Legal Advisory, Malaysian Securities Commission, Malaysia
  

Session 8 - Shareholder Initiated Enforcement (Class action suits)

• Mr. Guo Feng, (Chinese) Chief Lawyer, Zhong Lun Law Firm, China
• The Honourable Barbara J. Rothstein, Director, Federal Judicial Center, USA
• The Korean Experience, Prof. Hasung Jang, Korea University Business School and Director, Asian Institute of Corporate Governance, Korea