Forbes China just announced the 25 Best CEO of A-Share Listed Companies in China. Mr. Steven Xu, the CEO of CYG (ChangYuan Group), is ranked as 7th. He is the only CEO in Shenzhen who achieves this award.

The evaluation selects 500 non-state-own companies from 1450 A-Share listed companies. It also requires the CEO to be in the post for three years. The placing is determined according to the average Return on Equity (ROE), the growth rate of ROE, and the comparison of these two figures with those of other competitors. The remuneration of the CEO is also taken into consideration.

As the CEO of CYG, Mr. Steven Xu has not only created consistent outstanding returns for shareholders, but contributed a lot to the growth of the group and the development of employees.

According to Forbes China, the elected best CEO’s in the past three years created an average ROE of 15.8%, while the industry norm was 6.4%. The average annual remuneration of the top three CEO’s was US$36,700*, while the average was US$51,000 for all CEO’s being evaluated. The common characteristics of all best CEO’s are innovation and the passion of establishing new businesses, and the ability to find the correct directions and strategies.

Forbes China considers financial performance is more important than the remuneration of the CEO. The key is creating high returns for shareholders while getting reasonable remuneration.

The following photo is taken when Mr. Xu attended the awarding ceremony of Asia’s 200 Best Under A Billion by Forbes in Singapore.

Mr. Forbes (first from right) and Mr. Steven Xu (second from right), the CEO of CYG

* Based on a reference exchange rate of US$ 1=RMB7.593 as at 5 July 2007.