The 8th China Corporate Governance Forum, sponsored by Shanghai Stock Exchange and supported by State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and Organisation for Economic Co-operation and Development (OECD), was held in Shanghai on 18, December. At the forum, Shanghai Stock Exchange for the first time issued 2009 Special Prize for Corporate Governance. On behalf of Sinochem Int'l, Mr. Zhang Zenggen, General Manager and Director received the trophy of 2009 Best Board Award from Mr. Li Rongrong, Director of SASAC.
The forum carried out in-depth discussion concerning market for corporate control and corporate governance. Mr. Li Rongrong, Director of SASAC, Mr. Zhuang Xinyi, Vice Chairman of CSRC, Mr. Tu Guangshao, member of the Standing Committee of the CPC Shanghai Committee and vice mayor of Shanghai, Mr. Chen Dongzhen, Director-General of Shenzhen Stock Exchange, and Mr. Geng Liang, Director-General of Shanghai Stock Exchange attended the forum and addressed keynote speeches.
Strict criteria were applied by Shanghai Stock Exchange in the evaluation of Special Prize for Corporate Governance. The evaluation of Best Board Award focused on 19 specific items under three main categories including "the construction of board of directors system, the operation of the board of directors and unique practices of board of directors.
" The facts that the board of directors of Sinochem Int'l invited Standard Pool twice to conduct corporate governance rating, continuously improved its governance in the light of international standards and provided a guarantee of governance for the strategic transformation of corporate industrialization and its development at the global level has earned Sincochem Int'l the "Best Board" award of this year.
Other nine listed companies winning 2009 Best Board Award included Bao Steel, CITICS, China Merchants Bank, TBEA, COSCO SHIPPING, Tsingtao Beer, Fuyao Group, China Shenhua and Bank of China.