Sinopec Corporation of China - Setting Standards in Corporate Governance

Case Code: CGOV003
Case Length: 20 Pages
Period: 2002 - 2003
Pub Date: 2005
Teaching Note: Not Available

Price: Rs.300
Organization: Sinopec Corporation
Industry: Petroleum & Chemical
Countries: China
Themes: Coporate Governance

Abstract Case Intro 1 Case Intro 2 Excerpts

Sinopec's Corporate Management Structure

Sinopec diligently followed all the guidelines for information disclosure laid down by the 'Code of Corporate Governance for Listed Companies' (CCGLC) in China (Refer Exhibit IV). The CCGLC was formulated by China Securities and Regulatory Commission (CSRC). Sinopec had framed its code of corporate governance (CCG) based on the following:

Company Law of the People's Republic of China (CLPRC);
State Economic and Trade Commission (SETC) laws;
Obligatory provisions for the Articles of Association (AoA) of foreign listed companies;
Directives for the AoA of listed companies;
Other controlling regulations where Sinopec was listed.

In China, the Board of Directors (BoD) and the Supervisory Committee (SC) were empowered with the monitoring and the implementation of a company's CCG.

Explaining the emphasis on CCG laid down by Sinopec, Chen Tonghai (Tonghai), Chairman, Sinopec, said, "Since established in year 2000, the company has made great efforts in carrying out in-depth reformative measures and improving corporate governance under the leadership of the First Session of the Board of Directors."

Buy this case study (Please select any one of the payment options)

Price: Rs.300

PayPal (7 USD)

Custom Search