Corporate Governance and Corporate Social Responsibilities in China

Abstract

Corporate governance in China developed with the gradual shift of the country from a planned economy to a market economy. As Chinese enterprises switched over to modern corporate entities from government affiliates, it became necessary to establish a new corporate governance framework. The country underwent transformation through various phases, namely, reform and opening up, the establishment of a socialist market economic system, accession to the World Trade Organization, and the period thereafter (Kang et al., 1975).