For enterprises with environmental impacts, the concept extends to the neighboring communities. Corporate governance is a new concept for the Chinese. Our first attempt to include corporate governance in important government documents in 1993 failed because the concept was not widely accepted.
It was not until 1999 was it included in the documents of the Fourth Plenary Session of the 15th National Congress of CPC. We still have a lot to learn on this subject. Initially, the emphasis was on guarding the owners’ interests, making profit for owners, as well as setting up a good check and balance relationship and structure.