利好来了，证监会重磅发文

Core Viewpoint - The revised Corporate Governance Code aims to enhance the governance level of listed companies in China, focusing on the behavior of key stakeholders such as directors, senior management, and controlling shareholders, to protect the interests of minority shareholders and ensure the healthy development of the capital market [4][5]. Summary by Key Sections Key Content 1: Improvement of Director and Executive Supervision - The new regulations establish a comprehensive framework for the appointment, performance, and departure of directors and executives, emphasizing the need for strict qualification reviews and enhanced disclosure requirements regarding conflicts of interest [6][7]. Key Content 2: Establishment of Incentive and Restraint Mechanisms - Listed companies are required to create a compensation management system that aligns the remuneration of directors and executives with the company's performance and individual contributions, promoting long-term interests over short-term gains [7]. Key Content 3: Regulation of Controlling Shareholders and Actual Controllers - The new rules impose strict limitations on potential conflicts of interest and require enhanced transparency regarding related party transactions, aiming to prevent improper dealings that could harm the company [8]. Key Content 4: Coordination of Regulatory Rules - The revised code ensures alignment with existing laws and regulations, enhancing the clarity of shareholder rights and responsibilities of board committees, thereby improving the overall governance framework [9]. Implementation and Transition - The China Securities Regulatory Commission (CSRC) has engaged with the market to gather feedback on the revisions, allowing ample time for companies to adjust their internal systems before the new rules take effect on January 1, 2026 [10].