The Corporate Governance in China: a Comparative Perspective

Abstract

In the last years in China, the theme of the Corporate Governance has become really central in the economic, academic and political discussions. The aim of this thesis is to analyze the evolution of the Corporate Governance in Chinese system and to understand how much has been achieved. As well, to see how China made significant progress in pursuing a functioning Corporate Governance system. In the first chapter, the paper examines the evolution of the Corporate Governance from the beginning of the People Republic of China in 1949, underlying how economic changes, both from inside and outside the Country, have had a significant importance. The main steps of Chinese Corporate Governance evolution are divided in phases and historical periods, from the beginning when the economy was state-controlled until China became a more market-oriented system. The second chapter focuses on the Corporate Governance adopted in other countries, dividing them in main categories with the aim of widening the comparative analysis with other systems. The paper underlines furthermore the difference between Common Law and Civil Law and Outsider and Insider systems. The Corporate Governance models of those, commonly defined, “leading countries” are listed and described to make evidence of point of contacts and similarities with the Chinese standard. Taking in consideration what above reported, the last chapter analyzes the current legislation of Chinese Corporate Governance in State-Owned Enterprises and how it has been and it is relevant for the foreign direct investments.