The chairmen of two new committees set up by The Hong Kong Chartered Governance Institute update readers on the benefits of building an influential and expanded professional network in the Mainland.

Governance professionals and directors working in Hong Kong and the Mainland have been adapting to an increasingly complex regulatory environment in recent years – and one in which their own personal liabilities have risen steeply. In this context, earlier this year, The Hong Kong Chartered Governance Institute (the Institute) established two new committees under its Mainland China Technical Consultation Panel – the Board Secretaries Committee, and the Directors and Supervisors Committee – to give greater support to board secretaries, directors and supervisors in their work.  The first meetings of these committees have already been held, setting out the goals they will be working towards in the years ahead. Broadly, the two committees will focus on facilitating training support to directors, supervisors and board secretaries, as well as building a stronger professional community for experience exchange, networking and representing members’ interests in key areas such as regulatory reform and governance.  In this article, Xie Jilong FCG FCS, Chairman of the Board Secretaries Committee and former Board Secretary of CRRC Corporation Ltd, and Wu Enlai FCG FCS, Chairman of the Directors and Supervisors Committee and former Board Secretary of China National Petroleum Corporation, talk to CSj about the work and aspirations of their respective committees.

The Board Secretaries Committee

The Board Secretaries Committee was established in January 2021 to build a professional and practical experience exchange platform for board secretaries of listed companies inside and outside the Mainland. It also aims to attract outstanding domestic and foreign company secretaries of listed companies into the professional platform provided by the Institute. The committee provides professional training, guidelines and communication platforms for board secretaries by organising lectures and seminars, compiling guidelines and issuing advisory opinions. At present, its main functions are to: 

• discuss and provide opinions on laws and regulatory policies issued by the government and regulatory authorities relating to the professional skills and practices of board secretaries 
• discuss and provide opinions on questions raised by members and co-members relating to the professional skills of board secretaries 
• organise board secretaries, as members or Affiliated Persons of the Institute, to discuss and compile guidelines on relevant areas of their practice 
• promote the adoption of best practices in the work of board secretaries 
• organise professional seminars, and 
• provide support for the promotion of the profession in the Mainland.

The Board Secretaries Committee comprises 14 members, all of whom are board secretaries of enterprises listed on The Stock Exchange of Hong Kong, including both state-owned and private companies (see Committee membership). At the committee’s first meeting, held in Changchun in April 2021, members identified and discussed the key areas of their future work. Members agreed that a core area of that work will be coordinating the efforts of board secretaries and other managers in guiding relevant regulatory policies in Hong Kong and the Mainland.  Mr Xie points out that there are differences in the way new regulations are adopted in Hong Kong and the Mainland, but he believes that committee members should actively express their opinions and voice their concerns. ‘The formulation and promulgation of policies and regulations in the Mainland does not have a consultation process similar to that of Hong Kong, but the committee believes that the Institute can take the lead as a professional organisation to mobilise members to express their views and proposals regarding regulation, in order to influence the formulation and revision of regulatory policies. The committee also hopes that in the long term it can promote the healthy development of corporate governance in both Hong Kong and the Mainland,’ Mr Xie says. Recent legislative and regulatory changes in both the Mainland and Hong Kong have had a direct impact on members of the profession. Both the Securities Law, which came into force in the Mainland on 1 March 2020, and changes to Hong Kong’s Listing Rules strengthening the disciplinary powers of regulators, which came into force in July this year, have led to higher professional liabilities for board and company secretaries.  Mr Xie explains that the new Securities Law, together with the Criminal Law and supporting regulations, has clarified the rules and how to comply with them, and has increased the accountability and the penalties for relevant individuals to act as an effective deterrent against malpractice. This, he adds, has incentivised practitioners to continue their training and improve the performance of their duties.  He adds that regulatory changes in Hong Kong have had a similar effect. The recent revisions to the Listing Rules were designed to make the rules more market-oriented, but they have also strengthened the disciplinary powers of regulators and created a more precise legal environment for listed company compliance. One consequence will be that listed companies will have to be a lot stricter in compiling their annual reports and communicating with stakeholders. The net effect for members of the profession, Mr Xie emphasises, is that practitioners will have to up their game. ‘The regulatory approach has evolved from self-disciplinary supervision to administrative supervision to legal supervision, and at each stage board secretaries have been given new responsibilities. In addition to dealing with regulators, board secretaries are also responsible for coordinating internal training and even the company’s market value management. As compliance becomes more and more important, breaches of the regulations could lead to a criminal conviction for board secretaries. This forces board secretaries to prioritise compliance. Inevitably, this will sometimes conflict with a company’s development, but compliance should be the bottom line that board secretaries stick to,’ Mr Xie says. Against this background, Mr Xie adds that board secretaries also need to pay more attention to their own ongoing training, and this does not only mean staying up to date with the latest regulatory changes. In the current international geopolitical environment, and as a result of the Covid-19 pandemic, the work of board secretaries has become much more complicated. Practitioners need to be aware of geopolitical changes and their potential impact on their company. They need to actively respond to major global changes, while also learning to adopt flexible and diverse methods to strengthen communication with investors. The Board Secretaries Committee aims to help members of the profession cope with the changes outlined above. ‘The future development of the governance profession must start with the community really caring about corporate governance. It is necessary to create a legal and cultural environment in which people really care. In the future, the committee hopes that the professional status of board secretaries can be raised to the same level as that of accountants and lawyers. We are also considering doing some work in providing protection or relief measures for board secretaries,’ Mr Xie says.

The Directors and Supervisors Committee

In contrast to the single-tier board structure most common in Hong Kong, the Mainland adopts a dual-tier board structure comprising executive and supervisory boards, and these boards play a critical role in ensuring good corporate governance. As a professional body primarily concerned with the promotion of good governance, the Institute established the Directors and Supervisors Committee in January 2021 in order to enhance and expand the professional skills of its members, provide professional services tailored to members’ needs and to establish a channel for members to engage in the broader professional field of corporate governance. The committee provides professional training, practical guidelines and a communication platform, and speaks on behalf of directors and supervisors. It holds lectures and seminars, and writes practical guidelines and issues advisory opinions. The committee also discusses and provides opinions on legal and regulatory policies related to the professional skills and practices of directors and supervisors. In addition, the committee will compile practical guidelines in order to promote best practice among directors and supervisors. Currently, there are 12 members in the committee (see Committee membership). The first committee meeting, held in Guiyang on 20 May 2021, reached two main conclusions. Firstly, members agreed to establish a talent pool for boards of directors and supervisors. This will help senior board secretaries establish a new career path as directors. The committee also intends to provide consulting support for directors in the talent pool to help them fulfil their duties. Secondly, committee members agreed to prepare guidelines relating to the selection of directors and supervisors, the rights and obligations of directors and supervisors, and the potential liabilities they may face. Committee members believe that the guidelines will help regulate the arbitrariness of the appointment of directors. ‘Because of the geopolitical relations between the Mainland, the US and Europe, fewer companies will choose to list in the US or Europe, and more companies will be listed in Hong Kong in the future,’ Mr Wu explains. ‘With these two capital financing channels gone, and the Singapore market being too small, initial public offerings in Hong Kong are certain to increase and this will cause an explosive increase in the demand for board secretaries, full-time directors, independent directors and supervisors, as well as other professionals. This market demand is why we think we need to establish a talent pool and guidelines as soon as possible,’ he says. The committee believes it can play a valuable role in helping members of the profession adapt to changes in the macro environment and building the Institute’s professional platform to coordinate the resources of all parties and improve its professional and service capabilities. ‘We have identified our specific tasks and are currently writing practical guidelines for independent directors because many independent directors do not know what their responsibilities and obligations are, or even what their liabilities are, and what legal issues they will face when they perform their duties,’ Mr Wu explains. He points out that directors and supervisors within, or affiliated with, the Institute have good practical experience to bring to these issues. They have capital market experience and supervision experience, in addition to the expertise they have acquired from their professional backgrounds in law, finance and business. ‘These people are very valuable,’ Mr Wu says. ‘We will write an app enabling companies, organisations, governments and regulatory bodies to log in and find the talent they are looking for, just like they’re going shopping. We will also determine what qualifications and experience a person needs to enter the talent pool, and there will be regular seminars and training in the future.’ Mr Wu adds that the committee will also stay alert to the possibilities for future improvements and how to make better use of the Institute’s professional platform. ‘We hope to offer regular ongoing training in the future. Also, we hope to broaden the awareness of our talent pool among enterprises, exchanges, securities regulators and other regulatory agencies. This will be particularly important for enterprises. It is difficult for some small local state-owned enterprises and private companies to find suitable independent directors and supervisors. People from all walks of life are here, so the role of the Institute as a bridge will become more and more important in the future,’ he says. Hsiuwen Liu  Journalist  

SIDEBAR: Committee membership 

Board Secretaries Committee 

Xie Jilong FCG FCS (Chairman), former Board Secretary, CRRC Co Ltd  Guo Huawei FCG FCS (Deputy Chairman), Board Secretary, COSCO SHIPPING Holdings Co Ltd  Zhu Xu ACG ACS (Deputy Chairman), Board Secretary, Vanke Enterprise Co, Ltd Fu Rong FCG FCS, Board Secretary, Shanghai Electric Group Co Ltd Huang Chaoquan, Board Secretary, Huaneng International Power Co Ltd  Li Qian FCG FCS, Board Secretary, BYD Co Ltd  Ma Jinru FCG FCS, Vice-President, Board Secretary, Company Secretary, Xinjiang Goldwind Technology Co Ltd  Meng Xiangyun, CEO, Jianwei Digital Technology Co Ltd  Sui Li, Board Secretary, Head of the Financial Business Division, Guangzhou Automobile Group Co Ltd  Yang Liang, Board Secretary, Livzon Pharmaceutical Group Co Ltd  Zou Zhihong, Board Secretary, General Manager of the Legal Department, People’s Insurance Company of China  Du Chunye, Vice-President, Board Secretary, China Postal Savings Bank Co Ltd  Zhang Jingyan FCG FCS, Board Secretary, Company Secretary, Beijing Tongrentang Technology Development Co Ltd Yi Baohou, former Board Secretary, Company Secretary, China Coal Energy Co Ltd 

Directors and Supervisors Committee 

Wu Enlai FCG FCS (Chairman), former Board Secretary, China National Petroleum Corporation  Jin Xiaobin FCG FCS (Deputy Chairman), Executive Director, Aijian Group/ Aijian International Asset Management Co Ltd  Guo Xiangdong FCG FCS (Deputy Chairman), Board Secretary, Deputy General Manager, Guangshen Railway Co Ltd  Chen Liping FCG FCS, General Manager, China Shipbuilding Ocean and Defense Equipment Co Ltd  Gan Liwei, General Manager, Chief Financial Officer, AVIC Helicopter Co Ltd  Liu Yunhong, Independent Non-executive Director, Shanghai Electric Group Co Ltd  Wu Chengming, Board Secretary, China Galaxy Securities Co Ltd  Xie Lin, Chairman of the board, CCID Consulting Co Ltd  Ye Yumang FCG FCS, Deputy General Manager, Shanghai COSCO Shipping Logistics Co Ltd  Zhou Lianqing FCG FCS, former Board Secretary, Huadian International Power Co Ltd  Xie Xinyu FCG FCS, Executive Director, Deputy General Manager, Company Secretary, Anhui Wantong Expressway Co Ltd  Kang Jian, Vice-President, Board Secretary, Beijing Jingneng Clean Energy Co Ltd   

实践社群

香港公司治理公会新成立的两个委员会主任委员向读者介绍在内地建立有影响力、扩大的专业网络的益处。

近年来，在香港和内地工作的治理专业人士和董事一直在适应日益复杂的监管环境，他们自己的个人责任也急剧上升。在此背景下，今年稍早，香港公司治理公会在中国内地技术咨询小组下设了两个新机构——董事会秘书专业委员会（董秘委）和董事监事专业委员会（董监委）——以提供更大的支持。 委员会的第一次会议已经召开，确定了委员会在未来几年将努力实现的目标。两个委员会将专注于促进对董事、监事和董事会秘书（董秘）的培训支持，以及建立更强大的专业社区，在监管改革和治理等关键领域进行经验交流、建立联系并代表成员的利益。 在本文中，董秘委主任委员、中国中车股份有限公司原董事会秘书谢纪龙先生FCG FCS，以及董监委主任委员、中国石油天然气股份有限公司原董事会秘书吴恩来先生FCG FCS，分别与CSj畅谈各自委员会的重点工作以及未来展望。

董事会秘书专业委员会

董秘委于2021年1月成立，旨在搭建境内外上市公司董秘群体的专业实务经验交流平台，同时吸纳优秀境内外上市公司董秘进入公会专业平台，并代表董秘群体发声。 董秘委通过建议专业讲座、研讨会课题、编写实务指引及发表咨询意见等方式，为董秘提供专业培训、实务指引、交流平台，并代表其发声。目前，董秘委的主要职能有：

1. 针对政府和监管部门发布的、与董秘专业技能和实务相关的法律及监管政策进行讨论并提出意见 探讨由会员或联席成员提出的董秘有关专业技术问题并提供意见
2. 组织作为公会会员或联席成员的董秘就董秘相关工作领域进行研讨并编撰实务指引，从而推动董秘最佳实务与经验分享
3. 为公会组织的专业讲座/研讨会提供专业支持
4. 为公会在内地的专业推广提供支持

目前，董秘委第一届委员一共有14人，均为港股中具代表性公司的董秘，涵盖有国企也有民营公司（见委员会成员名单）。第一次董秘委会议于2021年4月于长春举办，委员们就董秘委的重点工作以及实务问题进行讨论，并一致认为委员会应该带动董秘等专业治理人士积极参与香港及内地相关政策制定，并代表群体发声。 谢先生指出，香港与内地新规的实施方式有所不同，但他认为委员应积极表达意见，表达关切。“内地政策法规的制定与颁布没有类似香港的咨询过程，委员们认为，公会可以作为专业机构牵头调动从业人士向监管表达业界观点及诉求，从而使从业人员可以在政策的制定及修订中发挥影响力，推动两地公司治理及资本市场的健康发展。” 内地和香港最近的立法和监管变化对专业人士产生了直接影响。内地于 2020 年 3 月 1 日生效的《证券法》和今年 7 月香港出台强化纪律处分的相关规定，都意味着董秘未来面临越来越多的职业风险。 谢先生解释说，新《证券法》连同《刑法》及配套法规，明确了规则及其遵守方式，加大了对相关人员的责任追究和处罚力度，有效遏制了舞弊行为。他补充说，这激励了从业者继续接受培训并提高他们的职责表现。 他补充说，香港的监管变化也产生了类似的影响。近期对上市规则的修订，旨在使规则更加市场化，但也强化了监管机构的惩戒权力，为上市公司合规创造了更加精准的法律环境。一个后果是，上市公司在编制年度报告和与利益相关者的沟通方面必须更加严格。 谢先生强调，对行业成员的影响是，从业者将不得不提高他们的水平。“这对董秘的工作来说意味着压力更大。由自律监管到行政监管再到法律监管，每一个层级董秘都脱不了干系，第二个是责任更重，董秘除了应对监管机构之外，还承担内训的责任，同时可能还要对市值管理负责，权责严重不对等，所以更加显出责任更重，第三个是合规更重要，又是警示，又是经济处罚，又是判刑坐牢，倒逼董秘把合规放在首位，难免与公司生产经营发展产生矛盾，但是合规将成为董秘不得不坚守的底线。” 在这样的背景下，谢先生表示，董秘需更加注重学习，及时了解掌握法律规则变化，更加谨慎小心。在国际地缘政治新格局与新冠疫情下，董秘的工作也出现挑战，为了因应变化，董秘必须培养关心地缘政治变化的习惯，对内掌握公司全局，并增强心理承压能力，积极应对世界百年未有之大变局，同时学习采取灵活多样的方式加强与投资者交流沟通。 为了应对这些变化，董秘委确定了未来开展工作的思路。“董秘和公司治理的未来发展，首先是要创造全社会共同关注共同重视公司治理的浓厚氛围，其次是要创造董秘责权利对等的法规和人文环境。” 谢先生说。“放眼未来，委员们也表示，董秘所从事的治理工作专业性很强，希望可以推动将董秘的专业地位提高到如同会计师和律师一样的高度。董秘委也将考虑在为董秘提供相应的履职保护或者救助措施方面做一些工作。”

董事监事专业委员会

与香港最常见的单层董事会结构不同，内地采用由执行人员和监事会组成的双层董事会结构，这些董事在确保良好的公司治理方面发挥着关键作用。作为以促进公司治理为主的专业机构，公会于 2021 年 1 月成立了董监委，以提高和扩展会员的专业技能，提供适合会员需求的专业服务，并为会员建立更广泛的公司治理专业领域的参与渠道。 董监委通过建议专业讲座、研讨会、编写实务指引及发表咨询意见等方式，为广大董事及监事提供专业培训、实务指引、交流平台并代表其发声，董监委也针对政府和监管部门发布的、与董事监事专业技能和实务相关的法律及监管政策进行讨论并提出意见。另外，董监委还将探讨由会员或联席成员提出的董事及监事有关专业技术问题并提供意见，组织作为公会会员或联席成员的董事或监事就董事及监事相关工作领域进行研讨、并编撰实务指引，推动董事及监事最佳实务与经验分享，同时为公会组织的专业讲座、研讨会、在内地的专业推广提供专业支持。 目前，董监委第一届委员一共有12人（见委员会成员名单）。5月20日，第一次董监委会议在贵阳举办，成员们讨论并达成了两项意见：同意建立董事监事人才库，帮助资深董秘轉型为董事，提供咨询支持；筹备董事监事指引，制定董事监事选择的标准、董事监事的权利与义务、风险边界以及考评等指引细则，同时结合案例分析，给予切实实务指导。成员们认为，制定指引有助于规范董事聘任的随意性，提升董事履职绩效。 “因为牵涉到中美还有中欧之间地缘政治的情势，在美、欧上市的公司会越来越少，在香港上市的公司会越来越多，”吴先生解释。“这是必然的，因为中国的公司只会越来越多，有融资要求的会越来越多，但目前这两个海外上市通道不同程度的面临一些困难和挑战，新加坡市场规模又比较小，所以想去香港上市的公司会越来越多。这会令董秘、董事、监事以及上市公司治理专业人才的需求会不断增长。因此，我们觉得要尽快把人才库和董事指引建立起来的原因，主要是因为市场的需求。” 委员会认为，它可以在帮助行业成员适应宏观环境变化，构建公会专业平台，协调各方资源，提高专业和服务能力方面发挥宝贵作用。“大家安排了一些具体工作。目前我们正在撰写独立董事的实务指引，因为很多独立董事不知道自己的责任义务是什么，甚至不知道自己的风险边界在哪里，履职出了问题要面对什么法律的问题，”吴先生解释。 他指出，公会已经有的董事、监事都有很好的实战经验，除了从法律、金融和商业的专业背景中获得的专业知识外，他们还拥有资本市场经验和监管经验。“这些人非常有价值，”吴先生说。“我们会建立一个 APP，企业、交易机构、政府及监管机构只要登入这个平台就可以找到想要的人才。当然，平台也会设定什么样的标准可以进入人才库。以后，委员会还会有定期培训、定期考评。” 吴先生说，“未来，董监委会继续将工作重点放在完善指引及人才库建设。同时思考如何更好地利用董监委及公会平台，在人员的培训、教育、推荐、考评等方面发挥更大的作用。另外一项更重要的任务是考虑如何协助公会与企业、交易所、监管机构加强沟通和联系，为提高公司治理能力培养、推荐董监事专业人材。尤其是企业，因为有一些地方国营企业和一些民营企业想找到一个称职的董秘、独立的董事监事是很难的，但是公会这边掌握了大量的董秘以及董事监事的资源，各行各业的人都在这边，所以公会的桥梁角色会越来越重要。” Hsiuwen Liu 记者  

委员会成员名单

董事会秘书专业委员

谢纪龙FCG FCS（主任委员） 中国中车股份有限公司 原董事会秘书 郭华伟FCG FCS（（副主任委员） 中远海运控股股份有限公司 董事会秘书 朱旭ACG ACS（副主任委员） 万科企业股份有限公司 董事会秘书 伏蓉FCG FCS 上海电气集团股份有限公司 董事会秘书 黄朝全 华能国际电力股份有限公司 董事会秘书 李黔 比亚迪股份有限公司 董事会秘书 马金儒 新疆金风科技股份有限公司 副总裁、董事会秘书、公司秘书 孟祥云 鉴微数字科技有限公司 CEO 眭立 广州汽车集团股份有限公司 董事会秘书兼金融业务本部本部长 杨亮 丽珠医药集团股份有限公司 董事会秘书 邹志洪 中国人民财产保险股份有限公司 董事会秘书、法律部总经理 杜春野 中国邮政储蓄银行股份有限公司 副行长、董事会秘书 张京彦FCG FCS 北京同仁堂科技发展有限公司 董事会秘书、公司秘书 义宝厚 中国中煤能源股份有限公司 原董事会秘书、公司秘书

董事监事专业委员会

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