Industry insiders: The "Regulations on the Supervision and Management of Listed Companies" have, for the first time, included a special chapter on corporate governance at the level of administrative regulations.

On December 5, the China Securities Regulatory Commission publicly solicited opinions on the draft "Regulations on the Supervision and Administration of Listed Companies". Corporate governance has always been a key focus of listed company supervision. However, in practice, the provisions of the Securities Law and Company Law are relatively principle-based, with many requirements for listed company governance concentrated in the rules of the CSRC and stock exchanges. "For the first time, the Regulation, at the level of administrative regulations, sets up a special chapter to focus on the governance issues of listed companies, detailing and supplementing the Company Law and Securities Law," industry insiders said. The Regulation improves the requirements for listed company governance, standardizes governance structures, and regulates the behaviors of key minority shareholders, actual controllers, directors, and senior management, promoting the effectiveness of governance and solidifying the foundation for the high-quality development of listed companies.