证监会修订发布《上市公司治理准则》 进一步规范上市公司董事、高级管理人员和控股股东、实际控制人行为 提升上市公司治理水平

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the "Corporate Governance Guidelines for Listed Companies," which will take effect on January 1, 2026, aiming to enhance corporate governance and compliance among listed companies [1][2]. Summary by Sections Revision Objectives - The revision aims to implement directives from the State Council and the Central Committee regarding risk prevention and the promotion of high-quality capital market development [1]. Key Changes in the Guidelines - Regulation of Directors and Senior Management: The guidelines will comprehensively regulate the appointment, performance, and departure of directors and senior management, ensuring they fulfill their duties faithfully and diligently [1]. - Incentive and Restraint Mechanisms: Companies are required to establish a compensation management system that aligns the remuneration of directors and senior management with the company's operational performance and individual achievements, promoting better alignment of interests [1]. - Regulation of Controlling Shareholders and Actual Controllers: The guidelines impose strict limitations on potential adverse impacts from competing businesses and enhance responsibilities regarding related party transactions [1]. - Coordination with Other Regulations: The guidelines will be aligned with existing laws and regulations, such as the Securities Law and the Independent Director Management Measures, to improve the coherence of corporate governance rules [1][2].