Corporate Governance of State-owned Enterprises in China and the Corresponding Rules of CPTPP:Challenges,References and Alignment
In the process of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partner-ship(CPTPP),the corporate governance of China's state-owned enterprises(SOEs)is facing certain challenges under this framework.For example,the unclear boundaries of public power embedded in corporate governance and the ambiguous delineation of the interests regarding rights to capital contribution and management of"investors"may be linked to"non-commercial assistance"prohibited under the CPTPP framework.Additionally,the absence or inadequacy of accountability and supervision procedures,coupled with the need to improve transparency,may be construed as undermining"competitive neutrality."Under the perspective of integration,the Organisation for Eco-nomic Co-operation and Development(OECD)has long been committed to providing comprehensive exemplary rule guidance on"competitive neutrality"and the corporate governance of SOEs through the issuance of guiding documents.Since many CPTPP parties are members of the OECD,the impact of the OECD's guidance documents on the CPTPP cannot be ignored.China can draw on these documents in both the accession negotiation and domes-tic practice to improve the governance mode of SOEs and implement targeted policies,thereby actively aligning with the CPTPP rules.
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