Dacheng Attorney Attends Review Meeting on Comparative Researches of Corporate Legal Management

On November 27 2013, Dacheng senior partner XuYongqian attended a meeting reviewing comparative researches of corporate legal management between China’s central enterprises and the world’s first-class enterprises. Hosted by Zhou Yubo, head of the Bureau of Policies and Regulations under SASAC of the State Council and the project team, the meeting also invited general in-house counsels and legal department heads of Wuhan Iron & Steel Group, China Mobile, China Coal, China Aerospace Science & Industry Corp., China State Construction Engineering Corporation, Sinopec, etc.

The group of legal experts made comparisons between Chinese central enterprises and some of the world’s first-class enterprises in aspects such as the importance attached to the rule of law, mechanism of general in-house counsel, legal department and personnel, the department’s scope of work, legal management model, etc., analyzed reasons for the differences and offered suggestions for improvement in China’s central enterprises. It was suggested that central enterprises should further foster the culture of rule of law, accelerate the building of general in-house counsel mechanism, cultivate a sense of responsibility in legal departments, improve legal management model, define more clearly the department’s scope of work and strengthen the capability of in-house legal staff, all of which have an important bearing for central enterprises on their participation in the global market and the protection of their legitimate rights and interests.

Altogether 30 of the world’s first-class companies from various industries were selected as targets for comparison, including General Electric, Raytheon Company, Boeing and Hutchison Whampoa.All of them excel in corporate legal management.