A股新变化：超1700家公司集体撤销监事会

Core Viewpoint - The governance structure of listed companies is undergoing a significant transformation driven by the new Company Law, with over 1,700 A-share listed companies announcing the cancellation of supervisory boards in favor of audit committees [1][3][4]. Group 1: Legislative Changes - The revised Company Law, effective July 1, 2024, allows companies to establish audit committees within the board of directors to perform the functions of supervisory boards, providing a legal basis for this shift [4]. - The China Securities Regulatory Commission (CSRC) has issued guidelines to align with the new Company Law, allowing companies until January 1, 2026, to complete necessary adjustments [4]. Group 2: Industry Trends - Major state-owned banks, including Industrial and Commercial Bank of China and Agricultural Bank of China, have collectively announced the cancellation of their supervisory boards, with private and foreign enterprises following suit [3]. - Non-listed companies are also adopting similar measures, indicating a broader trend in corporate governance reform across various sectors [3]. Group 3: Benefits of the Reform - The cancellation of supervisory boards is expected to optimize governance structures, enhance operational efficiency, and meet regulatory requirements, leading to a more centralized and effective supervision mechanism [6][7]. - By consolidating supervisory functions within audit committees, companies can reduce management layers, accelerate decision-making, and improve the alignment of oversight with actual business operations [6][7]. Group 4: Challenges and Considerations - While the transition to audit committees is seen as beneficial, challenges may arise in ensuring their independence and professionalism, which are crucial for the success of this reform [9][10]. - The need for a balance between the supervisory and decision-making roles of audit committees is emphasized to avoid potential risks associated with centralization [9][10].