Yuwa Wei


[extract] A corporation must have internal organs to form and express its will, to organise business, to supervise the implementation of its will. We call this kind of internal management corporate governance. Corporate governance is a new and challenging area to the Chinese. This is because the concept and structure of the modern corporation are so different from those of classical enterprises or state owned enterprises in a planned economy. The structural differences between various economic organisations are determined by distinct property rights.