证监会发布上市公司治理准则，2026年起健全激励约束机制

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has announced the implementation of the "Corporate Governance Guidelines for Listed Companies," effective from January 1, 2026, aimed at enhancing the incentive and restraint mechanisms for listed companies [1] Group 1: Incentive Mechanisms - Listed companies are required to establish a compensation management system to reasonably determine the compensation structure and levels for directors and senior management [1] - The compensation for directors and senior management must be aligned with the company's operational performance and individual performance, incentivizing them to create value for the company [1] - The guidelines also call for improvements in the payment mechanisms for directors and senior management, including the encouragement of deferred payment mechanisms [1]