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ACGA features in Bloomberg: China’s State Firms Cling to All-Male Boards Despite HKEX Rule

Jane Moir, Head of Research, and Stephanie Lin, Research Manager, feature in a Bloomberg article – China’s State Firms Cling to All-Male Boards Despite HKEX Rule.

Their comments are quoted below.

"We would hope that HKEX takes a zero-tolerance approach to companies that insist on maintaining an all-male board"

"It will be interesting to see whether HKEX gives leeway for SOEs if they can show there are plans afoot to make an appointment within a reasonable time. It really has not been a big ask."

"Directors of state-owned enterprises are typically appointed by the State-Owned Assets Supervision and Administration Commission or another SOE parent company"

"The pool of candidates available for selection is heavily skewed toward men, as there are few female executives within SOEs to begin with, ... Furthermore, given that nomination committees in SOEs typically have a procedural role only, the opportunity to access an external pool of candidates through this avenue is constrained."

To read the full article, please visit Bloomberg.