China will usher in the first special administrative regulations for the supervision of listed companies. The China Securities Regulatory Commission recently sought public comments on the “Regulations on the Supervision and Administration of Listed Companies”. The regulations establish special chapters to strengthen corporate governance and investor protection, and clarify various regulatory requirements relating to the capital market from after listing to before delisting. The purpose is to enhance the effectiveness and deterrent power of supervision and enforcement, and promote the healthy operation and standardized governance of listed companies. Currently, the Securities Regulatory Commission has established a system of regulatory rules including information disclosure, corporate governance, mergers and acquisitions, and delisting, etc., but the field of supervision of listed companies lacks an administrative regulation that follows basic laws such as the “Securities Law” and “Company Law”, and the rules of the Securities Regulatory Commission and exchange to regulate the actions of listed companies and related parties in accordance with the law. With the implementation of the new “National Nine Rules” and the “1+N” capital market policy, capital market supervision concepts, systems, and methods are gradually being perfected. The regulations elevate the beneficial experience of supervision and enforcement into regulations, which not only provide strong support for strict supervision and control, but also protect the high-quality development of listed companies.

China will usher in the first special administrative regulations for the supervision of listed companies. The China Securities Regulatory Commission recently sought public comments on the “Regulations on the Supervision and Administration of Listed Companies”. The regulations establish special chapters to strengthen corporate governance and investor protection, and clarify various regulatory requirements relating to the capital market from after listing to before delisting. The purpose is to enhance the effectiveness and deterrent power of supervision and enforcement, and promote the healthy operation and standardized governance of listed companies. Currently, the Securities Regulatory Commission has established a system of regulatory rules including information disclosure, corporate governance, mergers and acquisitions, and delisting, etc., but the field of supervision of listed companies lacks an administrative regulation that follows basic laws such as the “Securities Law” and “Company Law”, and the rules of the Securities Regulatory Commission and exchange to regulate the actions of listed companies and related parties in accordance with the law. With the implementation of the new “National Nine Rules” and the “1+N” capital market policy, capital market supervision concepts, systems, and methods are gradually being perfected. The regulations elevate the beneficial experience of supervision and enforcement into regulations, which not only provide strong support for strict supervision and control, but also protect the high-quality development of listed companies.