Chinese banks and insurers are failing on corporate governance
Regulators are putting banks and insurance firms under pressure to do more to tackle problems such as insufficient risk management, inaccurate information disclosure and inconsistent shareholder management.
The China Banking and Insurance Regulatory Commission (CBIRC) announced on November 12 that some of the organisations involved in its annual evaluation of banks and insurance firms are failing to meet corporate governance guidelines including shareholders governance, risk control and board governance.
This year, 1,857 companies participated in the corporate governance regulatory assessment (1,673 commercial banks and 184 insurers). The CBIRC ratings placed firms into A, B, C, D a…
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