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Over 200 Domestically Listed Companies Establish Independent Director System
As Laura Cha, Vice-Chairwoman of China Securities Regulatory Commission (CSRC) released Monday, an incompletely statistics shows a total of 314 independent directors have been established by domestically listed companies by now.
Due to imperfect internal structure, these companies have encountered such problems as 'one dominant share' or shares controlled by insiders. Under this circumstance, Cha noted, it's urgent to make perfect the internal structure of these listed companies, and so the introduction of director system proves an important measure to solve these problems.
Last May, the CSRS issued the Guiding Suggestions on Establishing the Independent Director System in Listed Companies (Draft for Soliciting Opinions), requesting that all domestically listed companies should introduce independent director system within one year and the number of independent directors should be over one-third of the board of directors.
By PD Online staff member Li Heng
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