S.J. Grand Financial and Tax Advisory President – Dr. Stephane J. Grand – has recently shared insights with the Financial Times on how the new Company Law refines the obligations of directors in Chinese entities.
The amended China Company Law, effective two days ago, offers greater flexibility in company structure while emphasizing the accountability of shareholders, directors, and senior management. Increased personal liability will most likely result in even higher reluctance from MNC personnel to assume these roles.
For better or worse, this marks the beginning of a new era in corporate governance in China.
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