Hong Kong criticised for decline in corporate governance

The Hong Kong government displays an ambivalent attitude to corporate governance and is more concerned with the short-term expansion of its stock market, according to Jamie Allen, secretary-general of the Asian Corporate Governance Association (ACGA). “Much of the drive to boost listings is a reaction to competitive [or perceived] pressures from Shanghai,” he says. Allen goes on to suggest that while much progress has been made in corporate governance over the past decade in Asia, the…