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Deepening the reform in the economic system is crucial for enhancing corporate governance, said Jesse Wang, assistant chairman of the China Securities Regulatory Commission (CSRC) on Wednesday.
Speaking at the 16th World Congress of Accountants, he also stressed the significance of improving the shareholding structure and building a more comprehensive legal regime to enhance market regulation.
He said the CSRC will actively boost the development of institutional investment and the improvement of companies' corporate governance level.
Wang called for the establishment of the independent director system and severe punishment on the violations against the benefits and interests of the minority shareholders.
(Xinhua News Agency November 21, 2002)
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