Ellie Pang, Chief Executive, The Hong Kong Chartered Governance Institute, reviews the Institute’s work in promoting the professional development of board secretaries in the Mainland for more than three decades.
The Hong Kong Chartered Governance Institute (the Institute) has devoted itself to promoting good governance and cross-border compliance in the Mainland. The Institute has always kept in mind its mission of advocating and promoting good corporate governance. In order to create value for Mainland-listed companies and enhance the professionalism of board secretaries, the Institute has witnessed and contributed to reforms, innovations and changes, and has continued to develop and grow on various fronts. 2021 is the 25th anniversary of the establishment of the Institute’s Beijing office. In this article, I would like to take the opportunity to celebrate the journey our Institute has made in the Mainland.
Setting up the Beijing office
In the late 1980s, the Institute and its members had already begun to indirectly serve Mainland enterprises in Hong Kong through our work with red chip companies. Before the first Mainland company, Tsingtao Brewery, went public in 1993, at the invitation of the China Securities Regulatory Commission (CSRC), the Institute began to provide guidance and training for practitioners working for Mainland companies seeking listings overseas. We also started to explore setting up an office in the Mainland.
During this period, the Institute focused on providing guidance on Hong Kong’s company secretarial system to the emerging capital markets in the Mainland. The Institute also assisted the CSRC in clarifying the responsibilities of companies listed overseas, and made preliminary explorations and preparations for the introduction of board secretaries to Mainland A share companies in 1996. Since then, the Institute has remained committed to its mission of promoting the professionalisation of governance in the Mainland.
In 1996, the Institute set up a representative office in Beijing, its first official presence in the Mainland. After that, the Institute, The Stock Exchange of Hong Kong Ltd (the Exchange) and the Hong Kong and Macau Affairs Office jointly organised annual H share company board secretary training in Hong Kong, and coorganised events that expanded professional training to Hong Kong H share companies and Mainland A share companies.
Welcoming Affiliated Persons
The Institute started to implement an Affiliated Persons (AP) programme for board secretaries of H share companies in the Mainland in 2004, after communication with the CSRC and the Exchange.
The Institute offers seminars that provide tailor-made professional development training, helping companies to meet the regulatory requirements of the Exchange. The Institute has also built a platform for professional exchange.
After nearly two years of operation, the Institute’s AP programme has become widely recognised and highly praised by members. The Institute has also used the platform to hold governance seminars in Beijing, Shanghai and Shenzhen for three consecutive years since 2006, advocating and promoting good corporate governance concepts and practices.
In order to meet the growing responsibilities of board secretaries and governance professionals, the Institute decided to expand the scope of the AP programme from 1 July 2020. As of the end of October 2021, the Institute has 168 registered APs and has held 59 ECPD seminars for them. Attendees were not only board secretaries and directors, but also senior managers and other governance practitioners of listed companies.
Facilitating cross-border exchange
With the recognition of dual listing in Hong Kong and the Mainland, the Institute issued a guidance on the differences between the disclosure requirements in the two places in 2008. In 2012, the Institute further expanded the guidance to better prepare board secretaries and company secretaries to respond to the practical challenges of new laws and regulations.
In July 2017, the Institute set up the Mainland China Technical Consultation Panel (MCTCP) to reflect the opinions of Mainland-listed companies in Hong Kong regarding revisions of Hong Kong listing regulations. The MCTCP consists of Mainland members, APs and representatives of practicing lawyers.
This year, in order to provide more targeted services to directors and board secretaries, the Institute set up two new subcommittees under the MCTCP – the Board Secretaries Committee, and the Directors and Supervisors Committee – to reflect members’ views and protect their rights and interests.
Building cooperative relationships
In 1996, the Institute helped to establish the Association of Board Secretaries (the Association) in Shanghai, with whom the Institute signed a memorandum of understanding. In 2009, preparing for the establishment of the China Listed Companies Association, and at the request of CSRC, the Institute provided a paper titled Cross-border Laws and Regulations Relating to Company/Board Secretaries. The purpose of the paper was to help coordinate with stakeholders and create a nurturing environment for the promotion of the board secretary profession.
Since 2011, the Institute has maintained a close cooperative relationship with the Association, the Shanghai Stock Exchange, the Insurance Association of China and the Shenzhen Stock Exchange. The Institute has cooperated with the Shanghai Stock Exchange to hold 11 sessions of A+H share board secretary training, and cooperated with the Insurance Association of China to organise seven sessions of international corporate governance training.
The Institute also established a cooperative relationship with Zhongguancun Science Park and Shanghai Zhangjiang High-Tech Park in 2018, the Shenzhen Nanshan Listed Companies Association in 2019 and the Suzhou Industrial Park in 2020, to help companies that intend to list in Hong Kong establish good corporate governance systems.
Professionalising governance
In recent years, regulators and investors have higher expectations of the responsibilities of company secretaries and board secretaries in corporate governance. Practitioners have shifted from being mainly administrative officers to being ‘chief governance officers’, playing a core role in governance. They are responsible for establishing corporate governance structures and mechanisms, managing shareholder and investor relations, due diligence and cross-border compliance and media relations, as well as managing crises.
In order to adapt to these developments in the field of corporate governance, and to better reflect the scope of work performed by company secretaries and governance professionals, the Institute created a new designation for its members in 2018. Members of the Institute now qualify for the Chartered Secretary and Chartered Governance Professional (CS/CGP) designation.
In order to enhance the awareness among stakeholders and in the general public of these developments, on 20 July 2021, The Hong Kong Institute of Chartered Secretaries was officially renamed The Hong Kong Chartered Governance Institute.
The pandemic, geopolitical tensions and the development of new technologies have brought many governance issues and challenges. Corporate governance has become increasingly complex, and its importance has risen to an unprecedented height, which means governance professionals will play an even more important role in the future. I sincerely hope that the Institute will continue to join hands with all colleagues and stakeholders in Hong Kong and the Mainland to further promote corporate governance in the relevant markets and our profession.
Ellie Pang
Chief Executive, The Hong Kong Chartered Governance Institute
内地公司治理的专业化
香港公司治理公会总裁彭京玲女士回顾公会在香港和内地推动公司治理超过70年的工作。
香港公司治理公会(公会)70多年来始终根植于内地董事会秘书(董秘)专业发展之伟大事业，紧跟时代发展步伐，牢记倡导和推广良好公司治理之使命。秉承为内地上市企业创造价值、提升董秘专业的理念，在各界的支持与指导下，公会历经改革风雨，见证创新变化，在探索中寻求变化，各项事业不断发展壮大。 2021年是公会北京代表处成立的25周年，恰逢公会更名的重大里程碑，是公会这一香港和内地资本市场治理的主要参与者非常值得追昔抚今的时刻，谨以此文志庆并与同业共勉。
设立北京代表处
早在上世纪80年代末，公会及其会员就在香港透过红筹股公司，开始间接为内地企业服务。在第一家内地公司青岛啤酒于1993年上市之前，应中国证券监督管理委员会(中证监)邀请，公会开始直接为内地公司境外上市提供辅导与培训，开始了内地发展的探索之路。
期间，公会聚焦在:通过辅导，给内地新兴资本市场导入香港的公司秘书制度，协助中证监制定了《内地到境外上市公司董事会秘书职责与管理办法》并于1993年发布实施，开启了大陆法系国家引进海洋法系国家的公司秘书和独立董事制度之先河。公会也为1996年内地A股公司引进董秘职位做了先期探路和准备。从那时起，公会就形成了立志内地专业发展的初心与使命。
1996年，公会毅然在香港回归祖国之前率先设立了北京代表处，正式踏足内地。其后，公会与香港交易所(港交所)和国务院港澳办信息研究所联合在香港举办一年一次的H股公司董秘培训班，并先后与深圳证券交易所(深交所)签订联合举办A、B股公司培训的备忘录，并合办首届培训课程，将专业培训从香港的H股公司培训拓展到了内地A股公司。
实施联席成员计划
公会于2004年开始在内地实施针对H股公司董秘的联席成员计划，强化专业持续发展讲座正式在内地落地。
专业聚焦是:提供量身定制的持续专业发展培训，帮助提升专业知识和实务技能，宣传专业人士的治理价值，满足港交所的规管要求，并搭建专业交流与经验分享的平台，向监管机构反映法规实施中存在的实务问题及诉求。
经过近两年的运营与不断改进，特别是在《公司法》将董秘列为法定高管及A股股权分置改革基本完成之后，公会的联席成员计划受到了H股公司和两地监管机构的广泛认可和高度评价。与此同时，根据A股股改之治理提升需要，公会自2006年开始，借助讲座平台连续三年分别在北京、上海和深圳举办“公司治理研讨会”，倡导和推广良好的公司治理理念与实务。
为了满足内地和香港强化董事和董秘责任形势下，董事、监事及相关公司治理人士专业提升的需求，公会理事会决定自2020年7月1日起扩大联席成员招收范围，将该等公司治理人士纳入联席成员招收对象。截至2021年10月底，公会拥有注册联席成员168人，共举办59期联席成员ECPD讲座，受众除了董秘、财务总监、法务总监及其工作团队外，也吸引了上市公司董事监事、高级管理人员和其他公司治理执业人士参与。
协调两地监管实务差异
随着两地双边上市模式的认同及两地上市公司的急剧增加，公会于2008年在北京发布了《香港与内地上市公司之持续披露比较研究报告－A、H双边上市之启示》，以协调双边上市和互联互通大势下两地信息披露差异的诉求。
2012年，公会进一步强化了在内地的技术研究和编写实务指引之专业职能，以发挥内地和香港董秘/公司秘书的协同效应，提高主动应对新法规实务挑战的专业意识，培养H股董秘的实务研究能力。
为了有效地反映内地在港上市企业对香港有关上市法规修订咨询文件的意见，支撑内地联席成员之专业技术问题的研讨及实务指引编写，2017年7月，公会理事会批准成立中国内地技术咨询小组（小组）。该小组主要由内地会员、联席成员及执业律师代表组成。今年，为了给董事和董秘们提供更有针对性的专业服务，公会决定在小组下设两个新的机构：董事监事和董秘专业委员会，并代表会员反映执业诉求，维护其合法权益。
开展广泛专业交流与合作
继1996年协助上海成立了内地首家董秘协会并与其签订合作备忘录后，2009年应中证监的要求，公会提交了《各地区公司秘书/企业秘书/董事会之法规及其规定要求》，供筹备设立中国上市公司协会(中上协)参考，以向董秘专业发展的利益相关者宣传推广公司治理自律组织的功能与价值及其最佳实践，协同各方营造公司治理专业发展的良好环境。
自2011年起，公会先后与上海证券交易所(上交所)、中国保险业协会（中保协）、中上协及深交所签署合作备忘录后，一直保持着紧密的合作关系。公会已经与上交所合作举办了11期“A+H股董秘后续培训”，与中保协合作针对内地保险公司董秘等公司治理执业人士举办了7期保险行业公司治理制式培训之国际公司治理发展趋势与借鉴培训班。
公会也于2018年与中关村科技园区及上海张江高科技园区管委会，2019年与深圳南山区上市公司协会，2020年与苏州工业园建立了合作关系，以积极探索助力高新技术及新经济企业，并帮助拟在香港上市企业建立良好公司治理体系，在国际地缘政治格局变化与新冠疫情双重考验下，为内地企业的发展和走出去提供专业服务及指引。
探索专业转型
近年来，全球监管机构赋予公司秘书或董秘们更多公司治理职责，其角色已经从原来主要从事行政管理，转变为发挥核心治理作用的“首席公司治理官”。公会会员除了有资格担任上市公司公司秘书、核证官等传统职务外，其专业服务范围还包括企业公司治理架构与机制建立、股东沟通与投资者关系管理、尽职调查与跨境合规、传媒监控与危机公关、反洗钱等首席治理官肩负的职责。
为适应当前的国际公司治理发展，更好的反映公司秘书及公司治理师所从事工作的范围，公会开始向合资格会员颁发新的“公司治理师”资格。今后公会会员将具备双重资格，即“特许秘书”与“公司治理师”资格，确立了其专业治理、国际认可、全球执业的领先地位。
为提升利益相关者及普通民众对公会专业的认识，彰显监管机构及社会各界对公会会员所担当的公司治理角色和职责的认可，顺应全球对公司治理日益重视之共识，经2021年7月15日召开的会员大会表决通过，“香港特许秘书公会”正式更名为“香港公司治理公会”，并于2021年7月20日获得香港公司注册处发出的公司更改名称证明书。
当前全球疫情状况、国际形势变化以及新技术的发展等因素引发了诸多公司治理问题与挑战，公司治理变得日益复杂，其重要性提升到前所未有的高度，而公司治理专业人士将扮演更重要角色。我殷切希望公会与两地同仁携手，继往开来，共筑公司治理专业发展之路，为推动两地公司治理水平的提升，培养更多优秀的公司治理专才贡献力量。
彭京玲女士
香港公司治理公会总裁
