Asia Pacific: Alibaba’s test for HK

Author: | Published: 23 Sep 2013

The proposed initial public offering (IPO) of Chinese internet company Alibaba Group would be one of the year's biggest. But Hong Kong should not concede corporate governance principles to win the listing.

Alibaba founder Jack Ma and the company's 20-odd partners have reportedly stipulated that the latter must nominate a majority of the company's board – even after its listing – and then present the nominees to shareholders for approval. If an appointment fails, the partners will be able to nominate an alternative.

It has been argued that Alibaba's unique...