Chinese companies have scored worst for transparency, according to a report released this week. The report, by the nonprofit group Transparency International, found that China has been ranked as one of the most opaque countries in terms of its corporate governance practices. Companies were given a score out of 10, with 10 being the most transparent. Chinese businesses were identified as some of the least transparent of EM firms, with an average score of 1.6. While a third of companies surveyed were Chinese, only one – ZTE – appeared in the top 25 most transparent, whereas nine of the bottom 10 ranked firms were Chinese; with three of these – Wanxiang Group, Galanz Group and Chery Automobile – scoring 0. The best performing companies were based in India.
Chinese companies have scored worst for transparency, according to a report released this week. Transparency International's survey assessed 100 firms in 15 emerging market (EM) nations for their anti-corruption efforts, organisational transparency and country-by-country reporting practices. Companies were given a score out of 10, with 10 being the most transparent. Chinese businesses were identified as some of the least transparent of EM firms, with an average score of 1.6. While a third of companies surveyed were Chinese, only one – ZTE – appeared in the top 25 most transparent, whereas nine of the bottom 10 ranked firms were Chinese; with three of these – Wanxiang Group, Galanz Group and Chery Automobile – scoring 0. The best performing companies were based in India.