A problem closely linked with insider control was the distortion and irregular transactions created in the process of massive “debt-equity” swap that took place in 1999, despising the principles of corporate governance. Leaders of the State Council have also been highly concerned with this issue. Given the mistakes, what should be done to clean up legacies left over by the debt-equity swap?
BIS Review 4/2005  1  (5) Feasible ways to promote corporate governance. In China, companies with the best corporate governance are generally those listed in the market as they are subject to the guidelines of corporate governance issued by regulatory authorities and to the supervision of investors, general public and the market.