The “Stock Listing Rules” newly set up special chapters on “Corporate Governance” and “Intermediary Institutions” to strengthen corporate governance requirements and further consolidate the responsibilities of intermediary institutions; focus on “key minorities” and add a special section on “Controlling Shareholders and Actual Controllers”; In order to standardize corporate governance, the “Stock Listing Rules” require that the board of directors and the board of supervisors are meeting abnormal situations to be disclosed.
Since the beginning of this year, the China Securities Regulatory Commission has guided the Shanghai and Shenzhen Stock Exchanges to integrate the regulatory and regulatory systems for listed companies. The Shenzhen Stock Exchange stated that this integration will focus on the revision of the “Stock Listing Rules” and promote the self-regulatory guidelines and adaptive revisions of the self-regulatory guidelines. After the integration, there are 36 self-regulatory rules in total, and the number has been reduced by more than 70%.
In order to build a more scientific, standardized, easy-to-understand and effective rule system, the Shenzhen Stock Exchange earnestly carried out the integration of the self-regulatory rule system of listed companies. At present, the relevant integration work is basically completed. On December 10, the Shenzhen Stock Exchange solicited public opinions on the revised “Shenzhen Stock Exchange Stock Listing Rules (Consultation Draft)” (hereinafter referred to as “Stock Listing Rules”).
Since the beginning of this year, the China Securities Regulatory Commission has guided the Shanghai and Shenzhen Stock Exchanges to integrate the regulatory and regulatory systems for listed companies. The Shenzhen Stock Exchange stated that this integration will focus on the revision of the “Stock Listing Rules” and promote the self-regulatory guidelines and adaptive revisions of the self-regulatory guidelines. After the integration, there are 36 self-regulatory rules in total, and the number has been reduced by more than 70%. A concise and friendly rule system has been formed with a simplified system, a scientific and complete content, and an easy-to-read and understandable structure.
In order to implement the relevant requirements of the State Council’s “Opinions on Further Improving the Quality of Listed Companies”, the “Stock Listing Rules” newly set up special chapters on “Corporate Governance” and “Intermediary Institutions” to strengthen corporate governance requirements and further consolidate the responsibilities of intermediary institutions; “Key Minorities”, a special section “Controlling Shareholders and Actual Controllers” has been added; In order to standardize corporate governance, the “Stock Listing Rules” require that the board of directors and the board of supervisors meet abnormal situations during the meeting to be disclosed.
In addition to the “Stock Listing Rules”, 13 self-regulatory guidelines including the Main Board and GEM Standardized Operation Guidelines also solicit opinions from listed companies.
In this integration, similar items will be merged in content, focusing on the four major business classifications of information disclosure, corporate governance, mergers and acquisitions, and regulatory responsibilities, and the same regulatory requirements in different rules will be merged to form an organic unified rule system. Unify the original guidelines such as employee stock ownership plans and independent director filings into the main board and the GEM standard operation guidelines to form special guidelines to carry corporate governance and standardized operation related topics; will be scattered in the guidelines, guidelines and information disclosure affairs management Relevant content is integrated to form information disclosure management guidelines. After the integration, the content of the rules is more scientific and the supervision efficiency is further improved.
Regarding the classification of rules, the Shenzhen Stock Exchange clarified the levels vertically and classified 39 non-guidance measures, such as the “Notice on Seriously Implementing the New Securities Law and Doing a Good Job in Information Disclosure of Listed Companies”, and “Implementation Measures for the Relisting of Delisted Companies”. The notifications are divided into categories, summarized and integrated, and are grouped into the “three-tier” system of listing rules, guidelines, and guidelines to further streamline the rule system. Coordinate numbering management, serialize 13 self-regulatory guidelines, including standardized operations and industry information disclosure formed after the integration; and integrate 59 original business guides and guidelines related to business handling to form the main board and ChiNext business handling guides. After integration, the form of the rules is more tidy and easier to master and use.
The Shenzhen Stock Exchange stated that it will adhere to the principles of marketization and rule of law, earnestly study and fully absorb reasonable opinions and suggestions from all parties in the market, further improve the basic system, optimize the rule system, and improve the quality and efficiency of market operation, stimulate market momentum, and promote the development of listed companies. Consolidate the foundation for quality development.Return to Sohu to see more
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