Corporate governance award for ZTE

ZTE Corp, one of China leading telecom equipment makers, has been recognized for the quality of its management. The firm was named the best corporate governance performer last year out of China top 100 listed firms.

According to ratings released by the Chinese Academy of Social Sciences and the Faculty of Business at the City University of Hong Kong on Wednesday, China Merchants Bank was ranked second, while Hua Xia Bank came in at third place. The report found the top 100 listed companies are doing best in areas such as information disclosure and transparency, in line with strict disclosure requirements set by the regulators.

It also said many listed firms are performing poorly in areas such as shareholder rights and responsibilities of board directors, 2 areas that are considered vital for sound corporate governance.