SHANGHAI, CHINA-Media OutReach – August 23, 2018 – Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement, and health solutions, and FORTUNE China, the global business news leader, have named top 50 boards of directors in China for 2018.
Peter Zhang, CEO, Aon Consulting, China
Aon and FORTUNE China selected outstanding boards of directors from China’s 500 largest listed companies using a comprehensive methodology based on data sourced from annual reports, websites of exchanges and companies, and company announcements. Companies were ranked based on metrics including Return on Equity (ROE), growth achieved, proportion of independent directors, and track record of board members. Diversity was also a key factor in the selection–considering elementssuch as representation of female directors, industry experts, members of major institutes, government representatives, academics and senior executives on the boards.
This ranking is the first of its kind in China, aiming to showcase the value of efficient governance models to drive business performance. Each company was selected from the largest listed companies on the FORTUNE China 500, that have been on a major stock exchange such as NASDAQ, China’s A Share, HK Share, or the Singapore Stock Exchange for at least one year.
Aon’s 2018 Top 50 Boards of Directors-China have 40% independent directors–more than the median of 36% among other FORTUNE China 500 companies. This is also higher than stipulations from China Securities Regulatory Commission and the Hong Kong Stock Exchange that require no fewer than one in three Board members to be independent directors. Nevertheless, the proportion of independent directors of Chinese companies is still lower than that of many western countries–with independent directors of US S&P 500 companies accounting for about 85% of the board.
Further, two companies featuring in Aon’s 2018 Top 50 Boards of Directors-China–Dali Foods and Dahua– have women making up 38% of their Boards. This is the highest ratio among the Top 50.
Peter Zhang, CEO of Aon Consulting, China, said: “As Chinese companies look to globalise and gain market share in the New Normal, they must transform their people practices to inspire a changing workforce. We must start from the top by having leadership teams that fuel collaboration, regular reflection and course correction driving business performance. Top boards provide oversight and advice that help organisations maximise their potential while protecting shareholders’ interests.”
Maiwen Zhang, Executive Chief Editor of FORTUNE China, said: “Boards of directors having diverse set of knowledge and skills are key to high-quality decision making. They can play a key role in helping companies accelerate innovation, navigate emerging risks and win investors’ trust.”
Aon’s 2018 Top 50 Boards of Directors-China:
|Tencent Holdings Ltd||Internet Service||Jiangsu Yanghe Brewery Joint-Stock Co., Ltd.||Food and Beverage|
|Country Garden Holdings Co. Ltd||Real-estate||Hengan International Group Company Limited||Paper, Printing and Packaging|
|Alibaba Group Holding Ltd||Internet Service||Luxi Chemical Group Co., Ltd.||Chemical|
|Kweichow Moutai Co., Ltd.||Food and Beverage||China Vanke Co., Ltd.||Real-estate|
|Geely Automobile Holdings Limited||Automobile||China Merchants Bank Co., Ltd.||Banking|
|Logan Property Holdings Company Limited||Real-estate||Hunan Valin Steel Co., Ltd.||Metal|
|Shaanxi Coal Industry Company Limited||Coal||Guangdong Haid Group Co., Limited||Agriculture, Forestry and Animal Husbandry|
|Dali Foods Group Company Limited||Food and Beverage||Wuliangye Yibin Co., Ltd||Food and Beverage|
|Wanhua Chemical Group Co., Ltd.||Chemical||Xinjiang Ba Yi Iron & Steel Co., Ltd.||Metal|
|Hangzhou Hikvision Digital Technology Co., Ltd.||Electronic Devices and Components||China Huarong Asset Management Co., Ltd||Diversified Investment and Finance|
|China Evergrande Group||Real-estate||Beijing Orient Landscape & Environment Co., Ltd.||Infrastructure and Construction|
|Sunny Optical Technology (Group) Company Limited||Machinery and Equipment Manufacturing||Midea Group Co., Ltd.||Household Appliance|
|Fangda Special Steel Technology Co., Ltd.||Metal||Liuzhou Iron & Steel Co., Ltd.||Metal|
|NetEase, Inc.||Internet Service||MMG Limited||Metal|
|Zhejiang Dahua Technology Co., Ltd.||Electronic Devices and Components||Zhejiang Communications Technology Co., Ltd.||Infrastructure and Construction|
|Longfor Group Holdings Limited||Real-estate||Fosun International Limited||Diversified Investment and Finance|
|Sansteel Minguang Co., Ltd. Fujian||Metal||Maanshan Iron & Steel Company Limited||Metal|
|Shenzhou International Group Holdings Ltd.||Textile and Garment||S.F. Holding Co., Ltd.||Transportation, Logistics and Warehousing|
|Longi Green Energy Technology Co., Ltd.||Machinery and Equipment Manufacturing||Inner Mongolia Yili Industrial Group Co., Ltd.||Food and Beverage|
|Yuzhou Properties Co. Ltd.||Real-estate||Xinyu Iron & Steel Co.,Ltd.||Metal|
|China State Construction Engineering Corporation Limited||Infrastructure and Construction||China International Travel Service Corporation Limited||Tourism and Hotel|
|Ping An Insurance (Group) Company of China, Ltd.||Insurance||NARI Technology Co., Ltd.||Machinery and Equipment Manufacturing|
|Baoshan Iron & Steel Co., Ltd.||Metal||Shandong Sun Paper Industry Joint Stock Co., Ltd.||Paper, Printing and Packaging|
|China Oriental Group Co. Ltd.||Metal||Sino Biopharmaceutical Limited||Pharmaceutical|
|China Southern Airlines Company Limited||Transportation, Logistics and Warehousing||Weichai Power Co., Ltd.||Automobile|
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