随着1990年深沪两地股票交易所的推出，国家政府开始了公司治理的进程。然而，国家政府列出了公司在精细化的公司治理结构下必须遵循的一些义务，包括基本证券和治理法。中国证监会或中国证券监督管理委员会于1992年成立，是为了监管和交易所规定的监管任务（Abrami et al。，2008）。因此，中国可以很容易地找到三十多年的自由化方案，其中一部分关注的是不完善的国有企业和国有企业。下面的文章也突出了在中国采用外国公司治理结构的障碍。
Because of the economic structure of China, the corporate governance followed by the entrepreneurs has been slightly different throughout the nation until recently. The difference in the corporate governance is evident from the business practices of large corporations as these were mainly state owned and the mangers of these firms were held accountable to both the business matters and the state policy goals. With time, there have been numerous changes and refinements in the corporate governance, as the country has been found to inclining towards the modern corporate governance. The following essay is the analysis of differences between Chinese corporate governance and foreign corporate governance in context of certain factors.
With the introduction of two stock exchanges in the Shenzhen and Shanghai in the year of 1990, the national government began the corporate governance’s processes. However, national government outlined certain obligations that the companies must follow under the refined corporate governance structure, including the basic securities and governance law. The CSRC or Chinese Securities Regulatory Commissions was established in the year of 1992 for the monitory tasks on both the outlined set of regulations and exchanges (Abrami et al., 2008). Thus, the China can be easily found pursuing liberalization program for more than three decades, part of which is concerned on the refinement of not consistently performing SOEs or state owned enterprises. The following essay also highlights the obstacles associated with the adoption of foreign corporate governance structure in China.
Adoption of Foreign Corporate Governance Practices
Until recent times, the government has been controlling almost all aspects of the economy of China. Apart from this fact, most of the enterprises were owned by the state. In the years of 1990s, China approached its first step to adopt modern corporate governance by the establishment of Shenzhen Stock Exchanges and Shanghai.