Corporate governance of state-owned enterprises is a complex area that requires balancing competing priorities. While state-owned enterprises need to be sufficiently controlled by the state exercising its ownership function, they also need to be free from political interference while providing a level playing field to private sector companies so as not to distort competition. Similarly, public law-oriented administrative regulations need to be balanced against private law corporate governance principles, while taking practical stances on complicated areas such as related party transactions. There are also significant differences between state-owned and private sector companies. This session will explore the unique governance challenges of state-owned corporations, recent trends and best practices for addressing them. It will also explore whether there is a need for separate codes of corporate governance for such companies as compared to the private sector.