Thursday, 30 October 2014

China Updates- Corporate Governance

A new regulation, effective 1st October, 2014, provides for greater transparency of companies' information. Companies are now required to provide annual reports, containing prescribed information including investments in other companies, profits, and taxes paid, to various authorities. Public authorities will also be obliged to comply, meaning they will become more subject to public scrutiny. This is an interim step and is expected to be expanded.

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