Best managed companies in Asia 2013: China Telecom makes the right calls

Anuj Gangahar

Although there are still misgivings about standards of corporate governance in the region, China Telecom stands out in Euromoney’s best-managed Asian companies survey for its principled approach to doing business and dealing with investors.

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Concerns about the corporate governance of Chinese companies are not new, particularly where foreign investors are concerned. Many of the basic tenets of good corporate governance are well established for western companies, but have been more difficult to spin into the fabric of Chinese commerce.

That said, in China, and elsewhere in Asia, for all the well-documented problems surrounding lack of transparency and accountability of leadership, several of the largest companies are displaying a growing appreciation of just how vital good corporate practices can be. These corporate governance successes are, however, more an exception than a rule and progress is needed on a broader scale.

According to Fitch Ratings, information flow and difficulties contacting Chinese companies after bond deals close is dampening investment appetite from international investors. Worries about financial disclosure and corporate governance...