A股新变化：超1700家公司集体撤销监事会！

Core Viewpoint - The governance structure of listed companies is undergoing a profound transformation driven by the new Company Law, with over 1,700 A-share listed companies announcing the cancellation of supervisory boards in favor of audit committees [2][6][7]. Group 1: Changes in Governance Structure - A significant number of listed companies have announced the cancellation of supervisory boards, transitioning to audit committees that will assume supervisory functions [2][6]. - Major state-owned banks, including Industrial and Commercial Bank of China and Agricultural Bank of China, have collectively announced the removal of supervisory boards, with private and foreign enterprises following suit [6]. - The new Company Law, effective July 1, 2024, provides legal grounds for this change, allowing companies to establish audit committees within the board of directors to perform the functions of supervisory boards [7]. Group 2: Benefits of the New Structure - The cancellation of supervisory boards is aimed at optimizing corporate governance, improving operational efficiency, and adapting to regulatory requirements [9]. - The shift to audit committees is expected to centralize and enhance the efficiency of supervision, reduce management layers, and accelerate decision-making processes [9][10]. - This reform is seen as a critical step towards transforming supervision from "formal compliance" to "substantive effectiveness," with audit committees integrating expertise from finance, law, and ESG fields [9][12]. Group 3: Challenges and Future Directions - While the transition to audit committees is generally viewed positively, challenges may arise in ensuring their independence and professionalism [12]. - The success of this reform hinges on maintaining the independence of audit committees and balancing their supervisory and decision-making roles to avoid "centralization risks" [12]. - As ESG principles gain traction, enhancing governance transparency and accountability will become new competitive focal points, with suggestions for dedicated ESG committees and mechanisms to align supervisory effectiveness with compensation [13].