17家上市银行宣布不再设监事会，公司治理改革提速

Core Viewpoint - The recent decision by multiple listed banks in China to abolish their supervisory boards is a significant shift in corporate governance, driven by the new Company Law and financial regulatory policies, which will enhance the efficiency and effectiveness of decision-making processes in the banking sector [1][3][6]. Group 1: Changes in Governance Structure - As of June 30, 2023, 17 listed banks, including both A-share and H-share banks, have announced plans to abolish their supervisory boards, with many already completing shareholder meetings to approve this change [1][3]. - Major state-owned banks, including ICBC, ABC, BOC, CCB, and BOCOM, have held shareholder meetings to pass resolutions for the abolition of supervisory boards, pending regulatory approval of revised company charters [3][6]. - The new Company Law allows companies to establish audit committees within the board of directors to perform the functions of supervisory boards, aligning with modern corporate governance trends [3][4]. Group 2: Transition of Supervisory Functions - The transition of supervisory functions from supervisory boards to audit committees is seen as essential for improving governance efficiency and reducing overlapping responsibilities [5][6]. - Audit committees, composed mainly of independent directors, will take on responsibilities such as monitoring financial conditions, reviewing external audit reports, and overseeing internal controls [6][7]. - This restructuring aims to enhance the effectiveness of supervision and reduce management costs, addressing long-standing issues in the banking sector [6][7]. Group 3: Emerging Roles and Future Directions - With the gradual phasing out of supervisory boards, the role of employee directors is becoming more prominent, as seen in banks like CMB and Changsha Bank, which have introduced employee representatives to the board [7]. - Employee directors are expected to bring grassroots perspectives into decision-making processes, enhancing the democratic and scientific nature of governance, particularly in matters related to employee rights and risk management [7].