Listed Company System Of Professional Committee Of The Board Discussed The Operation In China

The special committees under the board of directors have become an important part of corporate governance for a long time in the west. From the situation in the west, the building and development of the special committees under the board of directors plays an important role in improving the governance companies. According to the investigation made by the U.S.A Investor Responsibility Research Center (IRRC) in 1997, 1163 listed companies have set up the audit committee among 1500 listed companies in America, 759 companies have nomination committee and 1146 companies have remuneration committees.In China, more and more scholars agree that it is very necessary and important to set up special committees under the board of directors since the SSE published "Corporate Governance Guidelines" in 2001 and after ten years' practice. Wu Jinglian, a Chinese famous economist, thinks that special committees under the board of directors are important parts in the framework of corporate of corporate governance and can improve the quality of the work of the board of directors. However, the special committees under the board of directors, although their founding and construction have achieved some progress, have not achieved their due role.The author believes that the instruction and implementation of the system of special committees under the board of directors is still in the initial stage and the research about it from academic community is in infancy, so there is a long way to go for both the implementation of the system of special committees under the board of directors and the study of it. Although the system of special committees under the board of directors cannot solve all the problems that exist in the cooperate governance of Chinese listed companies through further and deep research on and making necessary adjustment to the special committees under the board of directors in the U.S.A and the U.K. Therefore, it is imperative to learn foreign experience to improve the system of the special committees under the board of directors in china. Unfortunately, it seems to be blank on the research about this system in china. The author chose this topic as the subject of his paper with a view to provide further supporting evidence on improvement of special committees under the board of directors and corporate governance in china.The main contents of this paper are as follows: the first chapter is a professional overview of the system of special committees under the board of directors, mainly introducing its concept, emergence, development and functions. Chapter II is mainly about situation of internal corporate governance in china and the necessity of founding the special committees under the board of directors and the practice of the system of special committees under the board of directors in china and the problems that exist. Chapter III talks about the obstacle existing in popularizing the system of special committees under the board of directors and the solutions on how to improve the system of special committees under the board of directors in china.