Friday March 28 2025

News Source: Global Exchanges

Focus: Stock Exchange Regulation

Type: General

Country: China

Link: https://tinyurl.com/567cszut




On 28th March 2025, China Securities Regulatory Commission (CSRC) announced that in order to implement the new “Company Law”, the authority issued the “Decision on Amending Some Securities and Futures Regulations” and the “Decision on Amending and Repealing Some Securities and Futures Regulatory Documents” and “packaged” 88 regulations and regulatory documents for revision and repeal, which will take effect from the date of promulgation.

The main contents of this centralized revision and abolition are:

  • In combination with the relevant provisions of the new “Company Law” and the “Regulations of the State Council on the Implementation of the Registered Capital Registration Management System of the ”Company Law of the People’s Republic of China”, the provisions on the board of supervisors and supervisors of listed companies are deleted, and it is clarified that non-listed public companies, fund management companies shall choose the audit committee or the board of supervisors as the internal supervision agency in accordance with the law.
  • Adjust the provisions on corporate governance in the “Corporate Governance Guidelines for Listed Companies” and “Management Measures for Equity Incentives of Listed Companies” and other rules, adjust the provisions on independent directors in the “Management Measures for Acquisition of Listed Companies” and other rules, and adjust the wording and cited article numbers of the new “Company Law”.
  • Abolish “Guidelines for the Supervision of Listed Companies No. 1 – Regulatory Requirements for Unrecovered Losses after Listed Companies Implement Major Asset Restructuring” and “Notice on Further Implementation of Matters Related to Cash Dividends of Listed Companies”.
  • “Guidelines for the Supervision of Listed Companies No. 9 – Regulatory Requirements for Listed Companies Planning and Implementing Major Asset Restructuring” will be revised in conjunction with relevant rules soon and will no longer be included in the scope of “packaged” revision.

In the next step, the CSRC will continue to implement the new “Company Law”, constantly improve the capital market system and rules, and provide support for the development of the capital market.

Click on the above link for further information