证监会再次修订《上市公司治理准则》，瞄准“关键少数”、健全激励约束

Core Viewpoint - The article discusses the recent public consultation by the China Securities Regulatory Commission (CSRC) on the revised draft of the "Corporate Governance Code for Listed Companies," aimed at enhancing the responsibilities of key stakeholders and improving corporate governance standards in response to evolving market conditions [1][4]. Group 1: Background of the Revision - The current governance code has played a significant role in promoting modern corporate governance and improving the operational standards of listed companies since its initial release in 2002 and subsequent revisions [4]. - The revision is driven by the need to strengthen the responsibilities of directors, senior management, and controlling shareholders to prevent abuse of power that could harm the interests of the company and its shareholders [4]. Group 2: Main Revision Contents - Management of Directors and Senior Management: The revision clarifies the qualifications for directors and senior management, detailing their duties and responsibilities, including the need for transparency in conflicts of interest and decision-making processes [5]. - Incentive and Constraint Mechanisms: Companies are required to establish a remuneration management system that aligns the compensation of directors and senior management with company performance, promoting value creation [5]. - Regulation of Controlling Shareholders: The revision imposes stricter regulations on controlling shareholders to prevent significant adverse impacts on the company, enhancing transparency in related party transactions [6]. Group 3: Implementation and Compliance - The revised code emphasizes the need for companies to align with existing laws and regulations, ensuring that governance practices are consistent with the broader legal framework [6]. - It also highlights the importance of independent directors and specialized committees within the board to enhance oversight and accountability [6].