For more than two decades, China has undergone rapid changes, economically and structurally. That is, China has constantly moved starting from 1978 to implement a modern enterprise system and has, considering the historical burden, gained remarkable success. Facing deeper integration into the world economy and significant internal structural changes, China drives for a better corporate governance system as a tool to sustain long-term growth, sustain foreign direct investment, and remain competitive. The state has realized that effective corporate governance promotes transparency in economic affairs and can act as a safeguard against mismanagement and corruption. In spite of the fact that corporate governance is a relatively new concept to China, it has already become a crucial element of Chinas efforts to continue their reforms in order to establish a market-oriented economy system. The aim of this paper is to provide a survey and an analysis of the current corporate governance system for listed companies in China and to offer some suggestions for improvement to make the current set of regulations more efficient.