Shanghai Stock Exchange and The Hong Kong Institute of Chartered Secretaries sign a Memorandum of Understanding

Facilitatingprofessionalisation of board secretary on the Mainland

HONG KONG, Jan. 10, 2011 /PRNewswire-Asia/ -- Shanghai Stock Exchange (SSE) and The Hong Kong Institute of Chartered Secretaries (HKICS) entered into a cooperation agreement. Mr. Zhou Qinye, Deputy General Manager of SSE and Mrs. April Chan, President of HKICS signed a Memorandum of Understanding (MOU) at the signing ceremony held today at Shanghai Stock Exchange Building, Shanghai.

The aim of the MOU is to foster collaboration in facilitating the development and professionalisation of board secretary on the Mainland with a view to meeting the increasing needs in the promising securities market.

"The signing of this MOU marks a significant milestone in the enhancement of the strategic partnership between SSE and HKICS, "said Mrs Chan. "It will enable both parties to better utilise their expertise and resources and ultimately foster a longer, wider and deeper cooperation. It is also hoped that the implementation of the MOU will have a beneficial effect on the standards of corporate governance of mainland listed companies."

Under the terms of this MOU, the two parties will collaborate in the following four main areas:

1. Study and exchange codes of corporate governance and compliance manuals for local and overseas board secretaries/company secretaries of listed companies
2. HKICS as a strategic partner to strengthen the understanding of international corporate governance practice and standards among mainland board secretaries  
3. Jointly conduct an annual study report of corporate governance to enhance the exchange of practical experience between the board secretaries/company secretaries of the Mainland and Hong Kong
4. SSE as an advisor to assist HKICS to develop PRC International Qualifying Scheme Examination that will better fulfil the needs of the Mainland. This examination will be taken in Chinese and the examination syllabus will be tailored to the specific needs of board secretaries practicing in the Mainland

About The Hong Kong Institute of Chartered Secretaries
Chartered Secretaries. More than meets the eye.

The Hong Kong Institute of Chartered Secretaries (HKICS) is dedicated to the promotion of its members' role in the formulation and effective implementation of good corporate governance policies in Hong Kong and throughout Mainland China as well as the development of the profession of Chartered Secretary.

HKICS was first established in 1949 as an association of Hong Kong members of the Institute of Chartered Secretaries and Administrators (ICSA) of London. It became a branch of ICSA in 1990 before gaining its local status in 1994. HKICS now has more than 5,300 members and 2,900 students.

For details, please refer to HKICS website:  http://www.hkics.org.hk.

For media inquiry, please contact:

Ms. Gloria Fung/Elaine Cheung
Tel: +852-2881-6177
Fax: +852-2881-5050
Email: gloria@hkics.org.hk / elaine@hkics.org.hk