In-House Legal Counsel and Enterprise Risk Management
Zhang Jianbin, Head of Legal Department, China Telecom Corporation Limited
No investment can be effective in the long term without proper risk management, and the outcomes of inadequate risk management turned out to be expensive. So from a certain perspective the duty of the in-house counsels is to work on risk management together with other function sectors.
Currently the Chinese telecommunications operators have begun reengineering their risk management systems for the sake of healthy growth in the process of transition following the evolution of technology and cutomer demands. Meanwhile, the trend of the global regulatory system placing higher requirements on the corporate governance and risk management also accounts for the operators’ efforts on the risk management. In this process, in-house counsels have played an important role. In this paper, the author trys to give a whole picture of current Chinese telecommunications industry, including the market, competition and regulation, upon which the author trys to show the readers a snapshot of the risk management in Chinese telecommunications operators. Further, the author will also discuss several key issues for the purpose of incorporating risk management into day to day work of the in-house counsels.
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