The Chinese are getting very focused on corporate governance. If you're looking around the region, greater transparency is one theme that's developing in other markets.

The line between corporate governance and strategy is a fine one. Increasingly, strategy is a legitimate question for shareholders.

The overseas markets are more regulated and Chinese companies can benefit and learn to fine-tune corporate structure and governance. So listing overseas first and then coming back to list will also benefit the domestic stock market.

In politics, it often pays to be ahead of the curve. That holds true for corporate governance too, even more so when politics enter the equation.

In the 1980s and 1990s, no one wanted to touch a narrow-focused antibiotic, something that treated one or two things. Everyone wanted to pursue broad, across-the-board antibiotics. That's all changed.

The real mechanism for corporate governance is the active involvement of the owners.