Changes to the large European market require great commitment from market participants. To streamline these changes, the Euro Retail Payments Board, the ERPB was launched last May with a view to SEPA. This new European payments governance body may grow into a European version of the Forum on the Payment System with users and suppliers working together on the further development of SEPA.
Then, corporate governance was translated as corporate governance structure in Chinese, emphasizing the importance of a good structure. Even though each country has its country-specific corporate governance stemming from its cultural tradition and legal system, some common elements are the most important and most basic. These common elements are included in two very important OECD documents that are worth our attention and research.