China's National Financial Regulatory Administration and three other agencies
published implementation opinions to strengthen financial‑institution
governance. Boards must perform major decision‑making and supervisory duties in
line with law; firms should optimize board composition by institution type,
ownership structure and directors' background (experience, expertise, gender,
age) and clarify board responsibilities. The guidance calls for reasonable
limits on the proportion of board seats nominated by the same shareholder and
its related parties. Directors are required to act faithfully and diligently and
be accountable to the institution, staff and consumers. The measures also
strengthen protections for directors' ability to perform duties and require
performance evaluation; supervisory boards or supervisors, where established,
must exercise effective oversight.
