Women on Boards

Hong Kong 2022

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 April 2022
Share
15.7 %
Women on HSI boards
Analysis
1 April 2022 Women account for 15.7% of HSI board members as of April 2022. This represents an increase from 14.3% in...
Analysis
Percentage of Women on Hang Seng Index (HSI) Boards

1 April 2022

Women account for 15.7% of HSI board members as of April 2022. This represents an increase from 14.3% in July 2021.

Key Data (Hong Kong)

Summary of Gender Diversity on HSI Boards

Data valid as of 1 April 2022
Share

Companies with at least one female director

55 (83.3 %)
39 (78 %)
38 (76 %)
39 (78 %)
  • Apr 2022
  • Jul 2021
  • Jan 2021
  • Jan 2020

Companies with multiple female directors

30 (45.5 %)
21 (42 %)
20 (40 %)
20 (40.0 %)
  • Apr 2022
  • Jul 2021
  • Jan 2021
  • Jan 2020

Companies with female executive directors

20 (30.3 %)
14 (28 %)
16 (32 %)
16 (32 %)
  • Apr 2022
  • Jul 2021
  • Jan 2021
  • Jan 2020

Companies with female CEOs

3 (4.5 %)
2 (4.0 %)
1 (2.0 %)
1 (2.0 %)
  • Apr 2022
  • Jul 2021
  • Jan 2021
  • Jan 2020

Companies with all-male boards

11 (16.7 %)
11 (22 %)
12 (24 %)
11 (22.0 %)
  • Apr 2022
  • Jul 2021
  • Jan 2021
  • Jan 2020
Analysis
1 April 2022 Progress in gender diversity on HSI boards can be observed across various indicators. Compared to July...
Analysis
Summary of Gender Diversity on HSI Boards

1 April 2022

Progress in gender diversity on HSI boards can be observed across various indicators. Compared to July 2021, the number of companies with one female director has increased from 39 to 55, increasing by 5.3%. Companies with multiple female directors have also increased from 21 to 30, an increase of 3.5%.

Key Data (Hong Kong)

Women on Boards League Table: HSI

Data valid as of 1 April 2022 | Currently 66 constituents on the HSI
Share

Most eventful

New HSI Constituent
Rank
1
(--)
Hang Seng Bank Ltd 恒生銀行有限公司
50%
1 (--)
Hang Seng Bank Ltd 恒生銀行有限公司
% Women
50%
Board Size
12
No. of Women
6
Stock Code
11
Chairperson
Lee, Irene Yun Lien
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;
Wang, Xiao Bin (1968-01) 王小彬
4
(--)
HAIDILAO INTERNATIONAL HOLDING LTD. 海底撈國際控股有限公司
33.33%
4 (--)
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
Yang, Lijuan (1978-09) 楊利娟
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
12
( 20)
Geely Automobile Holdings Ltd. 吉利汽車控股有限公司
23.08%
12 ( Group 2 Created with Sketch. 20)
Geely Automobile Holdings Ltd. 吉利汽車控股有限公司
% Women
23.08%
Board Size
13
No. of Women
3
Stock Code
175
Chairperson
Li, Shu Fu
Female Directors
Gao, Jie (1975) 高劼;
Lam, Jocelyn Yin Shan 林燕珊;
Wei, Mei 魏梅
52
( 2)
China Resources Land Ltd. 華潤置地有限公司
6.67%
52 ( Group 2 Created with Sketch. 2)
China Resources Land Ltd. 華潤置地有限公司
% Women
6.67%
Board Size
15
No. of Women
1
Stock Code
1109
Chairperson
Wang, Xiangming
Female Directors
Cheng, Hong (CR Land) (1966) 程紅

Top 10

Rank
Company
Rank
Percent
1
(--)
Hang Seng Bank Ltd 恒生銀行有限公司
50%
1 (--)
Hang Seng Bank Ltd 恒生銀行有限公司
% Women
50%
Board Size
12
No. of Women
6
Stock Code
11
Chairperson
Lee, Irene Yun Lien
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;
Wang, Xiao Bin (1968-01) 王小彬
2
(--)
Budweiser Brewing Company APAC Limited 百威亞太控股有限公司
42.86%
2 (--)
Budweiser Brewing Company APAC Limited 百威亞太控股有限公司
% Women
42.86%
Board Size
7
No. of Women
3
Stock Code
1876
Chairperson
Craps, Jan Eli B; Doukeris, Michel Dimitrios
Female Directors
Barrett Beimdiek, Katherine;
Tsang, Katherine King Suen;
Yang, Marjorie Mun Tak
3
( 3)
HSBC Holdings plc
38.46%
3 ( Group 2 Created with Sketch. 3)
HSBC Holdings plc
% Women
38.46%
Board Size
13
No. of Women
5
Stock Code
5
Chairperson
Tucker, Mark Edward
Female Directors
Duan, Rachel 段小纓;
Fairbairn, Carolyn Julie 范貝恩;
Lee, Irene Yun Lien 利蘊蓮;
Murray, Eileen (1958-03-07) 梅愛苓;
Van Der Meer Mohr, Pauline Francoise Marie 梅爾莫

4
(--)
HAIDILAO INTERNATIONAL HOLDING LTD. 海底撈國際控股有限公司
33.33%
4 (--)
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
Yang, Lijuan (1978-09) 楊利娟
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
5
( 1)
CLP Holdings Ltd 中電控股有限公司
30.77%
5 ( Group 2 Created with Sketch. 1)
CLP Holdings Ltd 中電控股有限公司
% Women
30.77%
Board Size
13
No. of Women
4
Stock Code
2
Chairperson
Kadoorie, Michael David
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
5
( 3)
Hong Kong Exchanges and Clearing Ltd. 香港交易及結算所有限公司
30.77%
5 ( Group 2 Created with Sketch. 3)
Hong Kong Exchanges and Clearing Ltd. 香港交易及結算所有限公司
% Women
30.77%
Board Size
13
No. of Women
4
Stock Code
388
Chairperson
Cha Shih, Laura May Lung
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
7
( 3)
Sino Biopharmaceutical Ltd. 中國生物製藥有限公司
28.57%
7 ( Group 2 Created with Sketch. 3)
Sino Biopharmaceutical Ltd. 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
Female Directors
Cheng, Cheung Ling 鄭翔玲;
Li, Mingqin 李名沁;
Tse, Theresa 謝其潤
7
(--)
Bank of China Ltd. 中國銀行股份有限公司
28.57%
7 (--)
Bank of China Ltd. 中國銀行股份有限公司
% Women
28.57%
Board Size
14
No. of Women
4
Stock Code
3988
Chairperson
Liu, Liange
Female Directors
Chao, Angela A 趙安吉;
Chen, Chunhua (1964) 陳春花;
Wang, Xiaoya 汪小亞;
Xiao, Lihong 肖立紅

9
( 1)
CK Hutchison Holdings Ltd. 長江和記實業有限公司
27.78%
9 ( Group 2 Created with Sketch. 1)
CK Hutchison Holdings Ltd. 長江和記實業有限公司
% Women
27.78%
Board Size
18
No. of Women
5
Stock Code
1
Chairperson
Li, Victor Tzar Kuoi
Female Directors
Chow Woo, Susan Mo Fong 周胡慕芳;
Lee, Rose Wai Mun 李慧敏;
Leung Lau, Sophie Yau Fun 梁劉柔芬;
Shih, Edith 施熙德;
Wong, Rosanna Yick Ming 譚王䓪鳴
10
( 8)
Link Real Estate Investment Trust 領展房地產投資信託基金
25%
10 ( Group 2 Created with Sketch. 8)
Link Real Estate Investment Trust 領展房地產投資信託基金
% Women
25%
Board Size
12
No. of Women
3
Stock Code
823
Chairperson
Allen, Nicholas
Female Directors
Gu, Jenny 顧佳琳;
Tan, Poh Lee 陳寶莉;
Tse, Nancy 謝秀玲
Analysis
1 April 2022 Several changes in the rankings are observed. Notably, Link Real Estate Investment Trust dropped eight...
Analysis
Women on Boards League Table: HSI

1 April 2022

Several changes in the rankings are observed. Notably, Link Real Estate Investment Trust dropped eight spots to claim tenth place, whereas HSBC Holdings plcjumped three places to third place.

Key Data (Hong Kong)

All-Male Boards

Data valid as of 1 April 2022
Share
11 Companies with all-male boards
8 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 香港中華煤氣有限公司
Utilities
JD.com, Inc. 京東集團股份有限公司
E-Commerce
Meituan 美團
Consumer Services
Sunny Optical Technology (Group) Company Limited 舜宇光學科技(集團)有限公司
Optical Products
WH Group Limited (KY) 萬洲國際有限公司
Food
Xiaomi Corporation 小米集團
Consumer Electronics & Computer Hardware
XINYI GLASS HOLDINGS LIMITED 信義玻璃控股有限公司
Manufacturing and Sales
XINYI SOLAR HOLDINGS LIMITED 信義光能控股有限公司
Utilities
BYD COMPANY LIMITED 比亞迪股份有限公司
Automotive
China Mobile Limited (HK) 中國移動有限公司
Telecommunications
CSPC PHARMACEUTICAL GROUP LIMITED 石藥集團有限公司
Pharmaceuticals
Analysis
1 April 2022 The number of companies with all-male boards has declined from 22.0% to 16.7%, comprising eleven...
Analysis
All-Male Boards

1 April 2022

The number of companies with all-male boards has declined from 22.0% to 16.7%, comprising eleven companies as of April 2022. It is also worth noting that among the companies with all-male boards, two are new Hang Seng Index constituents.

Key Data (Hong Kong)

New Appointments by Gender

Data valid as of 1 April 2022
Share
21
32.3%
Women
44
67.7%
Men
Out of a total of65appointments
Analysis
1 April 2022 There have been 65 new appointments since July 2021, this consisted of 21 new females, making up 32.3%...
Analysis
New Appointments by Gender

1 April 2022

There have been 65 new appointments since July 2021, this consisted of 21 new females, making up 32.3% of total new appointments, a slight decline of 0.1% since July 2021.

Key Data (Hong Kong)

New Female Director Appointments

Data valid as of 1 April 2022
Share
First time director on HSI board
First time appointed corporate director in Hong Kong
  • Fung, Anita Yuen Mei 馮婉眉

    Appt: 3 Mar 2022
    BOC HONG KONG (HOLDINGS) LIMITED (HK) 中銀香港(控股)有限公司
  • Wang, Yan (1978) 王燕

    Appt: 12 Jan 2021
    CHINA MENGNIU DAIRY COMPANY LIMITED 中國蒙牛乳業有限公司
  • Zhang, Kaiyu (CR) 張開宇

    Appt: 5 Nov 2021
    China Resources Beer (Holdings) Company Limited 華潤啤酒(控股)有限公司
  • Cheng, Hong (CR Land) (1966) 程紅

    Appt: 10 Aug 2021
    CHINA RESOURCES LAND LIMITED 華潤置地有限公司
  • Li, Yuzhuo 李玉焯

    Appt: 28 Feb 2022
    CHINA UNICOM (HONG KONG) LIMITED 中國聯合網絡通信(香港)股份有限公司
  • Leung Lau, Sophie Yau Fun 梁劉柔芬

    Appt: 28 Dec 2021
    CK Hutchison Holdings Limited 長江和記實業有限公司
  • Wu, Xiaojing (1968) 吳曉菁

    Appt: 20 Dec 2021
    ENN Energy Holdings Limited 新奧能源控股有限公司
  • Gao, Jie (1975) 高劼

    Appt: 11 Jan 2021
    GEELY AUTOMOBILE HOLDINGS LIMITED 吉利汽車控股有限公司
  • Lam, Jocelyn Yin Shan 林燕珊

    Appt: 11 Jan 2021
    GEELY AUTOMOBILE HOLDINGS LIMITED 吉利汽車控股有限公司
  • Liu, Linyi 劉林毅

    Appt: 24 August 2021
    HAIDILAO INTERNATIONAL HOLDING LTD. 海底撈國際控股有限公司
  • Song, Qing (1981) 宋青

    Appt: 24 August 2021
    HAIDILAO INTERNATIONAL HOLDING LTD. 海底撈國際控股有限公司
  • Yang, Hua (1983) 楊華

    Appt: 24 August 2021
    HAIDILAO INTERNATIONAL HOLDING LTD. 海底撈國際控股有限公司
  • Yang, Lijuan (1978-09) 楊利娟

    Appt: 3 Jan 2022
    HAIDILAO INTERNATIONAL HOLDING LTD. 海底撈國際控股有限公司
  • Cesar, Diana Ferreira 施穎茵

    Appt: 9 Jan 2021
    HANG SENG BANK, LIMITED 恒生銀行有限公司
  • Chung, Cordelia (LSHK:1985-03) 鍾郝儀

    Appt: 23 Feb 2022
    HANG SENG BANK, LIMITED 恒生銀行有限公司
  • Wang, Xiao Bin (1968-01) 王小彬

    Appt: 23 Feb 2022
    HANG SENG BANK, LIMITED 恒生銀行有限公司
  • Duan, Rachel 段小纓

    Appt: 9 Jan 2021
    HSBC HOLDINGS PLC
  • Fairbairn, Carolyn Julie 范貝恩

    Appt: 9 Jan 2021
    HSBC HOLDINGS PLC
  • Chen, Yifang (1964-10) 陳怡芳

    Appt: 23 Aug 2021
    Industrial and Commercial Bank of China Limited 中國工商銀行股份有限公司
  • Jenny Gu 顧佳琳

    Appt: 8 Jan 2021
    Link Real Estate Investment Trust 領展房地產投資信託基金
  • Kracht, Caroline Christina

    Appt: 3 Jul 2022
    TECHTRONIC INDUSTRIES COMPANY LIMITED 創科實業有限公司
Analysis
1 April 2022 There were 21 new female directors at 14 companies in the past nine months. CHINA RESOURCES LAND LIMITED...
Analysis
New Female Director Appointments

1 April 2022

There were 21 new female directors at 14 companies in the past nine months. CHINA RESOURCES LAND LIMITED 華潤置地有限公司 appointed Hong Cheng (1966) 程紅 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

May 2021
30 %

Malaysia

Mar 2021
25.8 %

New Zealand

Mar 2021
31.6 %

Singapore

Jan 2022
19.7 %

India

Mar 2020
17.0 %

Hong Kong

Apr 2022
15.7 %

Japan

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

1 April 2022

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

Analytical Summary
The first half of 2022 has seen slight progress in the representation of women on Hang Seng Index. Among the 66 HSI Constituents, 16 are new to this reporting period, which may in part explain the shift in numbers.
The first quarter of 2022 has seen limited progress in the representation of women in Hang Seng Index. Among the 66 HSI Constituents, 16 are new to this reporting period, which may in part explain the shift in numbers.

Highlights and lowlights include:

- Women make up 15.7% of the board seats on HSI – representing an increase compared to 14.3% in July of last year.
- There have been 65 new appointments since July 2021, consisting of 32.3% female appointments, a minor decline of 0.1% since July 2021.
- Eleven out of 66 boards are all male, making up 16.7% of the total. This compares to 22% in the previous year.

While this marginally positive development may offer a glimmer of hope, Hong Kong is by no means on par with other advanced economies. Most of the economies studied record a steady increase of at least 1% year-on-year, compared to the 6% increase recorded in HSI following two years of stagnation. It is especially alarming that Hong Kong currently lags behind the rest of Asia, with the exception of Japan. 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.