Women on Boards

Hong Kong 2022
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In recent years, we have seen a small minority of enlightened Hong Kong listed companies take concrete actions to rectify their gender-homogeneous board makeup. The majority have resisted or appointed a token woman, before returning to business as usual and a candidate pool taken from ‘the old boys club’.

Key Data (Hong Kong)

Percentage of Women on Hang Seng Index (HSI) Boards

Data valid as of 1 July 2022
Share
17.1 %
Women on HSI boards
Analysis
1 July 2022 Women make up 17.1% HSI board constituents as of 1 July 2022, this represents an increase of 1.4% from 15...
Analysis
Percentage of Women on Hang Seng Index (HSI) Boards

1 July 2022

Women make up 17.1% HSI board constituents as of 1 July 2022, this represents an increase of 1.4% from 15.7% in April 2022.

Key Data (Hong Kong)

Summary of Gender Diversity on HSI Boards

Data valid as of 1 July 2022
Share

Companies with at least one female director

62 (89.9 %)
55 (83.3 %)
39 (78 %)
38 (76 %)
  • Jul 2022
  • Apr 2022
  • Jul 2021
  • Jan 2021

Companies with multiple female directors

34 (49.3 %)
30 (45.5 %)
21 (42 %)
20 (40 %)
  • Jul 2022
  • Apr 2022
  • Jul 2021
  • Jan 2021

Companies with female executive directors

23 (33.3 %)
20 (30.3 %)
14 (28 %)
16 (32 %)
  • Jul 2022
  • Apr 2022
  • Jul 2021
  • Jan 2021

Companies with female CEOs

3 (4.3 %)
3 (4.5 %)
2 (4.0 %)
1 (2.0 %)
  • Jul 2022
  • Apr 2022
  • Jul 2021
  • Jan 2021

Companies with all-male boards

7 (10.1 %)
11 (16.7 %)
11 (22 %)
12 (24 %)
  • Jul 2022
  • Apr 2022
  • Jul 2021
  • Jan 2021
Analysis
1 July 2022 Progress towards gender diversity on HSI boards is revealed by various indicators. Compared to April 2022...
Analysis
Summary of Gender Diversity on HSI Boards

1 July 2022

Progress towards gender diversity on HSI boards is revealed by various indicators. Compared to April 2022, the number of companies with at least one female director has risen from 55 to 62, increasing by 6.6%. Meanwhile, companies with multiple female directors have also increased from 30 to 34, an increase of 3.8%. The rise in the number of companies with female directors may be explained by the increase in HSI constituents. 

Key Data (Hong Kong)

Women on Boards League Table: HSI

Data valid as of 1 July 2022 | Currently 69 constituents on the HSI
Share

Most eventful

New HSI Constituent
Rank
6
(--)
CK Asset Holdings Limited (KY) 長江實業集團有限公司
31.25%
6 (--)
CK Asset Holdings Limited (KY) 長江實業集團有限公司
% Women
31.25%
Board Size
16
No. of Women
5
Stock Code
1113
Chairperson
Li, Victor Tzar Kuoi 李澤鉅
Female Directors
Hung, Katherine Siu Lin 洪小蓮; Kwok Lee, Eva 郭李綺華; Pau, Ezra Yee Wan 鮑綺雲; Sng, Sow Mei 孫潘秀美; Woo, Grace Chia Ching 吳佳慶
18
( 11)
Bank of China Limited 中國銀行股份有限公司
21.42%
18 ( Group 2 Created with Sketch. 11)
Bank of China Limited 中國銀行股份有限公司
% Women
21.42%
Board Size
14
No. of Women
3
Stock Code
3988
Chairperson
Liu, Liange 劉連舸
Female Directors
Chen, Chunhua (1964) 陳春花, Wang, Xiaoya 汪小亞, Xiao, Lihong 肖立紅
20
(--)
ANTA Sports Products Limited 安踏體育用品有限公司
20%
20 (--)
ANTA Sports Products Limited 安踏體育用品有限公司
% Women
20%
Board Size
10
No. of Women
2
Stock Code
2020
Chairperson
Ding, Shizhong 丁世忠
Female Directors
Wang, Jiaqian 王佳茜; Xia, Lian (1978) 夏蓮
20
(--)
Ping An Insurance (Group) Company of China, Ltd. 中國平安保險(集團)股份有限公司
20%
20 (--)
Ping An Insurance (Group) Company of China, Ltd. 中國平安保險(集團)股份有限公司
% Women
20%
Board Size
15
No. of Women
3
Stock Code
2318
Chairperson
Ma, Mingzhe 馬明哲
Female Directors
Cai, Xun (1975) 蔡潯; Cai, Fangfang 蔡方方; Tan, Jessica Sin Yin 陳心穎
25
(--)
Lenovo Group Limited 聯想集團有限公司
18.18%
25 (--)
Lenovo Group Limited 聯想集團有限公司
% Women
18.18%
Board Size
11
No. of Women
2
Stock Code
992
Chairperson
Yang, Yuanqing 楊元慶
Female Directors
Wang, Cher Hsiueh Hong 王雪紅; Yang, Lan (1968) 楊瀾
29
(--)
JD.com, Inc. 京東集團股份有限公司
16.66%
29 (--)
JD.com, Inc. 京東集團股份有限公司
% Women
16.66%
Board Size
6
No. of Women
1
Stock Code
9618
Chairperson
Liu, Richard Qiangdong 劉強東
Female Directors
"Gruosi Scheufele, Caroline 蕭漫姬 "
36
( 9)
China Construction Bank Corporation 中國建設銀行股份有限公司
14.28%
36 ( Group 2 Created with Sketch. 9)
China Construction Bank Corporation 中國建設銀行股份有限公司
% Women
14.28%
Board Size
14
No. of Women
2
Stock Code
939
Chairperson
Tian, Guoli 田國立
Female Directors
Liu, Fang (1973-07) 劉芳; Shao, Min 邵敏
38
(--)
China Mobile Limited (HK) 中國移動有限公司
12.5%
38 (--)
China Mobile Limited (HK) 中國移動有限公司
% Women
12.5%
Board Size
8
No. of Women
1
Stock Code
941
Chairperson
Yang, Jie (China Mobile) 楊杰
Female Directors
Leung Ko, Margaret May Yee 梁高美懿
43
(--)
Xinyi Solar Holdings Limited 信義光能控股有限公司
11.11%
43 (--)
Xinyi Solar Holdings Limited 信義光能控股有限公司
% Women
11.11%
Board Size
9
No. of Women
1
Stock Code
968
Chairperson
Lee, Yin Yee (1952) 李賢義
Female Directors
Leong, Sharon Chong Peng 梁仲萍
43
(--)
WH Group Limited (KY) 萬洲國際有限公司
11.11%
43 (--)
WH Group Limited (KY) 萬洲國際有限公司
% Women
11.11%
Board Size
9
No. of Women
1
Stock Code
288
Chairperson
Wan, Long 萬隆
Female Directors
Zhou, Hui (1962) 周暉
50
( 13)
CNOOC Limited 中國海洋石油有限公司
10%
50 ( Group 2 Created with Sketch. 13)
CNOOC Limited 中國海洋石油有限公司
% Women
10%
Board Size
10
No. of Women
1
Stock Code
883
Chairperson
Wang, Dongjin 汪東進
Female Directors
Wen, Dongfen 溫冬芬

Top 10

Rank
Company
Rank
Percent
1
(--)
Hang Seng Bank Ltd 恒生銀行有限公司
66.66%
1 (--)
Hang Seng Bank Ltd 恒生銀行有限公司
% Women
66.66%
Board Size
12
No. of Women
8
Stock Code
11
Chairperson
Lee, Irene Yun Lien 利蘊蓮
Female Directors
Cesar, Diana Ferreira 施穎茵; Chiang, Lai Yuen 蔣麗苑; Chung, Cordelia (LSHK:1985-03) 鍾郝儀; Gan, Kathleen Chieh Huey 顏杰慧; Lee, Irene Yun Lien 利蘊蓮; Lin, Huey Ru 林慧如; Wang, Xiao Bin (1968-01) 王小彬; Wong Lam, Patricia Sze Wan 黃林詩韻
2
(--)
Budweiser Brewing Company APAC Limited 百威亞太控股有限公司
42.85%
2 (--)
Budweiser Brewing Company APAC Limited 百威亞太控股有限公司
% Women
42.85%
Board Size
7
No. of Women
3
Stock Code
1876
Chairperson
Craps, Jan Eli B. 楊克, Doukeris, Michel Dimitrios
Female Directors
Barrett Beimdiek, Katherine; Tsang, Katherine King Suen 曾璟璇; Yang, Marjorie Mun Tak 楊敏德
3
(--)
HSBC HOLDINGS PLC 滙豐控股有限公司
33.33%
3 (--)
HSBC HOLDINGS PLC 滙豐控股有限公司
% Women
33.33%
Board Size
12
No. of Women
4
Stock Code
5
Chairperson
Tucker, Mark Edward 杜嘉祺
Female Directors
Buckingham, Geraldine Joyce 鮑哲鈺; Duan, Rachel 段小纓; Fairbairn, Carolyn Julie 范貝恩; Murray, Eileen (1958-03-07) 梅愛苓
3
(--)
China Hongqiao Group Limited 中國宏橋集團有限公司
33.33%
3 (--)
China Hongqiao Group Limited 中國宏橋集團有限公司
% Women
33.33%
Board Size
12
No. of Women
4
Stock Code
1378
Chairperson
Zhang, Bo (China Hongqiao) 張波
Female Directors
Sun, Dongdong (1976) 孫冬冬; Wong, Yuting 王雨婷; Zhang, Ruilian 張瑞蓮; Zheng, Shuliang 鄭淑良
3
(--)
Haidilao International Holding Ltd. 海底撈國際控股有限公司
33.33%
3 (--)
Haidilao International Holding Ltd. 海底撈國際控股有限公司
% Women
33.33%
Board Size
15
No. of Women
5
Stock Code
6862
Chairperson
Zhang, Yong (1970) 張勇
Female Directors
Gao, Jie (1980) 高潔; Liu, Linyi 劉林毅; Song, Qing (1981) 宋青; Yang, Hua (1983) 楊華; Yang, Lijuan (1978-09) 楊利娟
6
(--)
CK Asset Holdings Limited (KY) 長江實業集團有限公司
31.25%
6 (--)
CK Asset Holdings Limited (KY) 長江實業集團有限公司
% Women
31.25%
Board Size
16
No. of Women
5
Stock Code
1113
Chairperson
Li, Victor Tzar Kuoi 李澤鉅
Female Directors
Hung, Katherine Siu Lin 洪小蓮; Kwok Lee, Eva 郭李綺華; Pau, Ezra Yee Wan 鮑綺雲; Sng, Sow Mei 孫潘秀美; Woo, Grace Chia Ching 吳佳慶
7
( 2)
CLP Holdings Limited 中電控股有限公司
30.76%
7 ( Group 2 Created with Sketch. 2)
CLP Holdings Limited 中電控股有限公司
% Women
30.76%
Board Size
13
No. of Women
4
Stock Code
2
Chairperson
Kadoorie, Michael David 米高嘉道理
Female Directors
Gaw, Christina 吳燕安; Law Fan, Fanny Chiu Fun 羅范椒芬; Mody, Zia 穆秀霞; Tan, May Siew Boi 陳秀梅
7
( 2)
Hong Kong Exchanges And Clearing Limited 香港交易及結算所有限公司
30.76%
7 ( Group 2 Created with Sketch. 2)
Hong Kong Exchanges And Clearing Limited 香港交易及結算所有限公司
% Women
30.76%
Board Size
13
No. of Women
4
Stock Code
388
Chairperson
Cha Shih, Laura May Lung 史美倫
Female Directors
Cha Shih, Laura May Lung 史美倫; Cheung, Anna Ming Ming 張明明; Chow Woo, Susan Mo Fong 周胡慕芳; Leung, Nisa Bernice Wing Yu 梁穎宇
9
(--)
Geely Automobile Holdings Limited 吉利汽車控股有限公司
30%
9 (--)
Geely Automobile Holdings Limited 吉利汽車控股有限公司
% Women
30%
Board Size
10
No. of Women
3
Stock Code
175
Chairperson
Li, Shu Fu 李書福
Female Directors
Gao, Jie (1975) 高劼; Lam, Jocelyn Yin Shan 林燕珊; Wei, Mei 魏梅
10
( 3)
Sino Biopharmaceutical Limited 中國生物製藥有限公司
28.57%
10 ( Group 2 Created with Sketch. 3)
Sino Biopharmaceutical Limited 中國生物製藥有限公司
% Women
28.57%
Board Size
14
No. of Women
4
Stock Code
1177
Chairperson
Tse, Theresa Y Y (1992) 謝其潤
Female Directors
Cheng, Cheung Ling 鄭翔玲; Li, Mingqin 李名沁; Lu, Hong (1969) 魯紅; Tse, Theresa Y Y (1992) 謝其潤
Analysis
1 July 2022 Several changes in the rankings are observed. Notably, WH Group Limited (KY) stood at the 43rd place with...
Analysis
Women on Boards League Table: HSI

1 July 2022

Several changes in the rankings are observed. Notably, WH Group Limited (KY) stood at the 43rd place with its first female appointment on the board, whilst Bank of China Limited dropped eleven places to 18th place.

Key Data (Hong Kong)

All-Male Boards

Data valid as of 1 July 2022
Share
7 Companies with all-male boards
6 Companies which have never had female directors

Companies which do not have female directors

Companies which have never had female directors
Company
Industry
Hong Kong And China Gas Company Limited (The) 香港中華煤氣有限公司
Utilities
Xinyi Solar Holdings Limited 信義光能控股有限公司
Utilities - Solar Energy
Zhongsheng Group Holdings Limited 中升集團控股有限公司
Finance
BYD Company Limited 比亞迪股份有現公司
Finance
Xiaomi Corporation 小米集團
Consumer Electronics & Computer Hardware
Sunny Optical Technology (Group) Company Limited 舜宇光學科技(集團)有限公司
IT
Meituan 美團
Consumer Services
Analysis
1 July 2022 The number of companies with all-male boards has declined significantly from eleven to seven as of July...
Analysis
All-Male Boards

1 July 2022

The number of companies with all-male boards has declined significantly from eleven to seven as of July 2022, six of the seven boards have not had a female director historically. Additionally worth noting is that there were no new Heng Seng Index constituents with all-male boards during the latest reporting period.

Key Data (Hong Kong)

New Appointments by Gender

Data valid as of 1 July 2022
Share
12
40.0%
Women
18
60.0%
Men
Out of a total of30appointments
Analysis
1 July 2022 There have been 30 new appointments since April 2022, this consisted of twelve new females, accounting...
Analysis
New Appointments by Gender

1 July 2022

There have been 30 new appointments since April 2022, this consisted of twelve new females, accounting for 40% of total new appointments, a marked increase of 7.7% since April 2022.

Key Data (Hong Kong)

New Female Director Appointments

Data valid as of 1 July 2022
Share
First time director on HSI board
First time appointed corporate director in Hong Kong

  • Buckingham, Geraldine Joyce 鮑哲鈺

    Appt: 1/5/2022
    HSBC HOLDINGS PLC 滙豐控股有限公司
    Profile

  • Lin, Huey Ru 林慧如 

    Appt: 01/07/2022
    Hang Seng Bank Ltd 恒生銀行有限公司

  • Wong Lam, Patricia Sze Wan 黃林詩韻

    Appt: 01/07/2022
    Hang Seng Bank Ltd 恒生銀行有限公司

  • Zhou, Hui (1962) 周暉

    Appt: 1/6/2022
    WH Group Limited (KY) 萬洲國際有限公司

  • Leung Ko, Margaret May Yee 梁高美懿

    Appt: 18/5/2022
    China Mobile Limited (HK) 中國移動有限公司
    Profile

  • Leong, Sharon Chong Peng 梁仲萍

    Appt: 2/6/2022
    Xinyi Solar Holdings Limited 信義光能控股有限公司

  • Wang, Cher Hsiueh Hong 王雪紅

    Appt: 20/6/2022
    Lenovo Group Limited 聯想集團有限公司

  • Wu, Guizhen 武桂珍

    Appt: 27/5/2022
    CSPC Pharmaceutical Group Limited 石藥集團有限公司

  • Kwok Lee, Eva 郭李綺華

    Appt: 20/5/2022
    CK Asset Holdings Limited (KY) 長江實業集團有限公司

  • Sng, Sow Mei 孫潘秀美

    Appt: 20/5/2022
    CK Asset Holdings Limited (KY) 長江實業集團有限公司

  • Xia, Lian (1978) 夏蓮

    Appt: 1/7/2022
    ANTA Sports Products Limited 安踏體育用品有限公司

  • Cai, Xun (1975) 蔡潯

    Appt: 1/7/2022
    HAIDILAO INTERNATIONAL HOLDING LTD. 海底撈國際控股有限公司
Analysis
1 July 2022 There were twelve new female directors appointed across ten companies over the last three months. Notably...
Analysis
New Female Director Appointments

1 July 2022

There were twelve new female directors appointed across ten companies over the last three months. Notably, Xinyi Solar Holdings Limited 信義光能控股有限公司 appointed Leong, Sharon Chong Peng 梁仲萍, their first-ever female appointment.

Key Data (Hong Kong)

Progress by Geography

Data obtained from official sources
Share

Norway

Mar 2022
42.6 %

United Kingdom

Feb 2022
39.1 %

Australia

Nov 2021
34.2 %

Canada

Jul 2021
33.2 %

United States

Jul 2022
32 %

Malaysia

Mar 2021
25.8 %

New Zealand

Mar 2021
31.6 %

Singapore

Jan 2022
19.7 %

India

Mar 2020
17.0 %

Hong Kong

Jul 2022
17.1 %

Japan

Jul 2019
5.2 %
Analysis
1 July 2022 As of 1 July 2022, many key economies have made steady progress in gender diversity on boards. These...
Analysis
Progress by Geography

1 July 2022

As of 1 July 2022, many key economies have made steady progress in gender diversity on boards. These include Australia, Canada, Norway, Singapore, United Kingdom and United States.

Analytical Summary
The first half of 2022 has seen slight progress in the representation of women in the Hang Seng Index. Among the 69 HSI constituents, are four new to this reporting period, which may in part explain the shift in numbers.
Highlights and lowlights include:
- Women make up 17.1% of the board seats on HSI – representing a slight increase compared to 15.7% in April 2022.
- Nearly half of the new appointments have been made to women in the past quarter – a marked increase of 7.7% compared to three months ago.
- Seven out of 69 boards are all male, making up 10.1% of the total. This compares to 16.7% in the first quarter of the year.

While this positive development may offer a glimmer of hope, Hong Kong is by no means on par with other advanced economies. Most of the markets studied record a steady increase of at least 1% year-on-year, compared to the 1.4% increase recorded in HSI after two years of stagnation. It is especially alarming that Hong Kong currently lags behind the rest of Asia, with the exception of Japan and India. Community Business supports the 30% Club’s aspirational target of 25% female representation on boards of listed companies by 2025, and 30% within six years which should be then mandated by quotas if these targets are not met.

To speed up progress in Hong Kong, imposing a mandated quota could be the way forward. Admittedly, this measure is no panacea as it may undermine meritocratic appointments. But as we continue to see stagnation despite years of advocacy, a stronger push might just be what the city needs.