On November 21, the Award Ceremony of "Best Corporate Governance Disclosure Awards 2008" sponsored by Hong Kong Institute of Certified Public Accountants (HKICPA) took place in Hong Kong. ICBC won the Gold Award of H-share listed company category of "Best Corporate Governance Disclosure Awards 2008". The fact that ICBC won the Gold Award of the Awards not only shows a new step taken by ICBC in corporate governance level, but also signs that the sound corporate governance and operation as well as information disclosure level of ICBC have obtained wide acknowledgement in the industry.
According to the report, the Awards of "Best Corporate Governance Disclosure" was sponsored and established by HKICPA in the year 2000 as the corporate governance awards highly honored in Hong Kong. The goal of the establishment of the Awards was to boost the constant enhancement of the disclosure level of corporate governance information as well as encourage enterprises to actively enhance the transparency and the consciousness of responsibility for shareholders and other stakeholders in order to establish the best standard on operation practice as a reference for more enterprises.
The key standard of the selection of the Awards of "Best Corporate Governance Disclosure" is on the qualities of the information disclosed forwardly in the annual reports of the enterprises instead of the information that is required to be disclosed by relevant laws and regulations, focusing on the government structure and operation, risk management, internal control and related transaction etc.
It was pointed out in the "Evaluation Report" of HKICPA, the "Corporate Governance Report" in the "Annual Report 2007" of ICBC was detailed and comprehensive, covering all important information like structure, system and practice of corporate governance with deep and accurate analyses on framework, system and strategy of risk management. In addition, the information about social responsibility disclosed shows that the company has been laying the stress on fulfilling of its social responsibility and obtained the wide recognition in the society; also, the sound establishment of corporate network offers a platform for investors to further know the company.
