From The Legal Perspective Of Our Family Corporate Governance Structure And Its Perfect

Compared to the family businesses which are already matured in western countries, the family businesses of our country mostly came from the minor enterprise which set up after reform and opening-up of 1978. On one hand, Chinese traditional Confucian culture gives family businesses strong cohesion and striving inspirit, and makes them stronger with the development of the Chinese economy. On the other hand, there are so many conflicts between family governance and the modern corporate governance because of the paternalistic tradition which lasted for thousands years in china, and affects badly the modernization and comprised of family businesses. The family businesses in western country which already developed hundreds years introject the advantage of family governance and modern corporate governance, so as to stand firmly during the cruel marketing competition. Our new Corporate Law also realizes the importance of corporate governance. The perfect rules for modern corporate governance are guides for the comprised of our family businesses. Though it's exigent for our family businesses to set up modern corporate governance, but Rome can't be built in one day. Carrying out the rules of Corporate Law, and taking the advanced experiences of western family businesses as reference, and that is the best choice for our family business.