证监会修订发布上市公司治理准则：推动健全现代企业制度 提升规范运作水平

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the Corporate Governance Code to enhance the governance level of listed companies, effective from January 1, 2026, in response to government directives aimed at risk prevention and high-quality capital market development [1][2]. Group 1: Key Changes in Governance Code - The revised code includes comprehensive regulations on the roles and responsibilities of directors and senior management, ensuring they perform their duties faithfully and diligently [1]. - It establishes a remuneration management system that aligns the compensation of directors and senior management with the company's operational performance and individual achievements, promoting better alignment of interests [1]. - The code imposes stricter regulations on the behavior of controlling shareholders and actual controllers, limiting significant adverse impacts from competition and enhancing the responsibilities and decision-making requirements for related party transactions [1]. - It ensures coordination with other regulations, improving the clarity of shareholder rights and the responsibilities of the board's nomination and remuneration committees [1]. Group 2: Implementation and Feedback - The CSRC has previously solicited public opinions on the governance code, receiving overall positive feedback on the direction and content of the revisions [2]. - The CSRC will focus on the implementation of the governance code, encouraging listed companies to continuously improve their modern corporate systems and operational standards [2].