China Association of Listed Companies (hereinafter referred to as the “Association”) stated on April 8 that the association will focus on promoting the high-quality development of listed companies, continuously guide the standardized development of listed companies, improve the level of corporate governance, and better serve economic and social development.
Participate in the construction of a “1+X” system to improve corporate governance
The association said that since the development of China’s capital market for more than 30 years, listed companies have gradually established relatively sound organizational structures and corporate governance systems, providing a good example for various domestic enterprises. Since its establishment, the association has always attached great importance to corporate governance. Under the strong leadership of the CSRC Party Committee, it has promoted the continuous improvement of the overall governance of listed companies and consolidated the foundation for high-quality development of listed companies through the establishment of rules, training and practice.
The Association participated in the revision of the “Guidelines for the Governance of Listed Companies” by the Listing Department of the China Securities Regulatory Commission, organized discussions with listed companies, investment institutions, experts and scholars, solicited opinions, and conducted in-depth research on some key issues. After more than two years, the “Governance of Listed Companies” was completed The first revision of the Guidelines since 2002 lays a solid institutional foundation for the governance of listed companies in the new era. Cooperate with the China Securities Regulatory Commission to carry out revisions such as the revision of the Company Law, the formulation of the Regulations on the Supervision of Listed Companies, the Guiding Opinions on Establishing the Independent Director System in Listed Companies, and the Guidelines for the Articles of Association of Listed Companies.
Focusing on the implementation of the “Governance Guidelines for Listed Companies”, it carried out the compilation of the interpretation of the guidelines and supporting self-discipline rules, and improved the institutional system of listed companies’ governance. The Guidelines for Directors’ Participation in the Internal Control of Listed Companies, and the compilation of the Guidelines for the Work of the Audit Committee of Listed Companies. Through the formulation of self-discipline rules, it provides a reference for the directors, supervisors and senior executives of listed companies to perform their duties diligently, and enhances the awareness of compliance and integrity.
Organizing special training on listed company governance,researchand theme salon
The association continues to carry out “key minority” training, organize seminars and research activities, build a good corporate governance ecology, increase publicity, enhance cognitive recognition, build market consensus, and create a good atmosphere for improving the governance level of listed companies.
The Association has organized closed-door meetings and research symposiums on the independent director system of listed companies for many times to analyze and study issues related to my country’s independent director system, and form relevant surveys.Research reportReport, develop and establish independent director talent information database. Relying on professional committees such as the Board Secretary Committee and the Chief Financial Officer Committee, conduct research on special issues. Activities such as performance of duties by directors, supervisors and senior management, risk prevention of independent directors’ performance, performance of board secretaries, investor relations management, and ESG-themed salons were held.
Promote the improvement of the governance level of listed companies
The association promotes the improvement of the governance level of listed companies by carrying out activities to advocate the best practices of corporate governance, establish a model of listed company governance, and conduct benchmarking.
In July 2012, according to the unified deployment of the China Securities Regulatory Commission, the association carried out advocating the best practices of independent directors and the board of supervisors. Through a series of activities such as exchanges and seminars, training and transmission, investigation and research, and collection of best practices, more than 400 practical cases and problems and suggestions reflected by companies in the survey were summarized and extracted, and the “China Listed Company Governance Report 2013” was written and released to comprehensively sort out China. Governance status of listed companies, showing the best practices of independent directors and supervisory boards of listed companies.
Beginning in 2018, the Association and the Shanghai and Shenzhen Stock Exchanges released the “Cash List of Listed Companies”DividendList”, to guide and standardize cash dividends of listed companies and strengthen returnsshareholderAwareness, practice the concept of respecting investors, fearing investors and protecting investors.
In 2021, the association will carry out the collection of outstanding cases of party building in private listed companies, collect hundreds of cases, and compile and publish the “Excellent Cases of Party Building in Private Listed Companies”. Through advocacy, demonstration and experience sharing of excellent cases, private listed companies are encouraged to better grasp the new situation facing party building, transform the party’s organizational advantages into the development advantages of listed companies, and lead enterprises to achieve high-quality development.
Promote listed companies to establish and practice ESG development concepts
The Association attaches great importance to the ESG work of listed companies. In recent years, it has actively promoted listed companies to establish and practice ESG development concepts through exchanges, advocacy, training and other means.
In order to promote listed companies to base themselves on the new development stage, implement new development concepts, build a new development pattern, and do a good job in ESG-related work, the Association launched a collection of excellent ESG practice cases for listed companies, and finally screened and included 133 outstanding listed companies from 25 jurisdictions. Cases are compiled into a book. In conjunction with mainstream financial media, we will conduct special serial publicity reports, and at the same time, serialize on the association’s WeChat public account and member information exchange, fully demonstrating the ESG practices of excellent listed companies.
The Association and China Securities Index Co., Ltd. wrote and released the “White Paper on ESG Development of Chinese Listed Companies”, which comprehensively analyzes and summarizes the status of ESG information disclosure and ESG development performance of Chinese listed companies, providing an important reference for Chinese companies to formulate ESG development strategies and for all sectors of society. Provide a window to understand the ESG development of Chinese listed companies.
(Article source: ChinasecuritiesReport · China Securities Network)