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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (2287)	12/29/2003 7:58:49 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

''Do More, Say Less'' PetroChina's transparency has won admiration -- and investment dollars -- from Warren Buffett. But can the state-owned giant really deliver? Cesar Bacani, CFO Asia December 29, 2003 Wang Guoliang seems an unlikely exponent of transparency in Chinese companies. For a start, 51-year-old Wang spent all of his working life at state-owned China National Petroleum Corp (CNPC) and its listed subsidiary PetroChina, the world's sixth-largest listed oil company, becoming its CFO in 1999. Then there's his education: he earned his master's in international economics from a school in Hebei province, not from a prestigious American university. And like many now-successful Chinese executives, he had his hungry years. At 17 years old, during the chaotic height of the Cultural Revolution, authorities sent him from his Shanghai home to the countryside to till the soil and learn from the people. And yet this child of communist China is now counted among the country's most progressive CFOs. "Mr. Wang has been the primary interface with the investment community," says Paul Bernard, energy analyst at Goldman Sachs. "I have been pleased with the job he and his staff have done, and the feedback I hear from investors is similar. PetroChina's financial reports are detailed and timely, and are released around the same time as those of other major Chinese and Hong Kong companies." Wang certainly talks the talk. When told that this reporter's pension fund probably owns PetroChina shares, he replied: "Then you're my boss. I should report to you." ... cfo.com