Which of the Following Is FALSE About Corporate Governance in China

Which of the following is FALSE about corporate governance in China?

A) The Chinese governance system may be tilting toward the Western model.
B) With increasing frequency, the compensation of top executives of Chinese companies is closely related to prior and current financial performance of the firm.
C) The state still uses direct and/or indirect controls to influence the strategies employed by most firms.
D) Firms with higher state ownership tend to have lower market value and more volatility in those values over time.