Based on the fact that high quality of corporate governance is a prerequisite to deliver sustainable economic growth in the long run, this chapter reviews the current corporate governance practices in China, mainly from the condition of its internal and external governance mechanisms. Specifically, this chapter reviews the evolution of governance mechanisms in China’s state sector, particularly China’s previous corporatization programs; the current legal and regulatory systems and major corporate governance-related legislation since 1980, within the context of external governance mechanisms; and board of directors, ownership and control of listed firms, statutory audit, and various issues relating to managers of listed ...

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