时报观察：上市公司监管法治化迈入新阶段

Core Viewpoint - China is set to introduce its first dedicated administrative regulations for the supervision of listed companies, aimed at enhancing regulatory effectiveness and investor protection [1] Group 1: Regulatory Framework - The China Securities Regulatory Commission (CSRC) has released a draft for the "Regulations on the Supervision and Management of Listed Companies" for public consultation [1] - The regulations will include a dedicated chapter to strengthen corporate governance and investor protection, outlining regulatory requirements from listing to delisting [1] Group 2: Current Regulatory Landscape - The CSRC has established a regulatory framework that includes rules on information disclosure, corporate governance, mergers and acquisitions, and delisting [1] - There is currently a lack of a comprehensive administrative regulation that connects foundational laws like the "Securities Law" and "Company Law" with the rules of the CSRC and stock exchanges [1] Group 3: Impact on Capital Markets - The introduction of these regulations is expected to support the implementation of the new "National Nine Articles" and the "1+N" policy in the capital market [1] - The regulations aim to elevate beneficial regulatory experiences into formal laws, providing strong support for stringent supervision and promoting the high-quality development of listed companies [1]