吴清：严格出清“害群之马”“空壳僵尸”，十四五”时期207家公司平稳退市

Group 1 - The core viewpoint of the article highlights the achievements in the financial sector during the "14th Five-Year Plan" period, emphasizing the importance of high-quality development [1][3] - The China Securities Regulatory Commission (CSRC) has improved the institutional mechanisms for promoting high-quality development of listed companies over the past five years [3] - The dual-driven approach of information disclosure and corporate governance has been reinforced, with two revisions to the information disclosure management measures and a systematic improvement of corporate governance standards [3] Group 2 - The "merger and acquisition guidelines" have led to the disclosure of 230 major asset restructurings, with even more general asset restructurings supporting industrial integration among listed companies [3] - The implementation of two rounds of delisting system reforms has broadened exit channels, resulting in the smooth delisting of 207 companies during the "14th Five-Year Plan" period, effectively removing underperforming and "zombie" companies from the market [3]