Four Chinese financial regulators, including the National Financial Regulatory
Administration, issued implementation opinions to strengthen
financial-institution governance. The guidance mandates protection of financial
consumers and other stakeholders’ lawful rights, expands financial literacy and
consumer education, and requires financial product and service suitability
standards with periodic updates. It stipulates legal protection for consumers’
rights to information, autonomous choice and fair dealing, and promotions
diversified dispute-resolution channels with encouragement of mediation. The
opinions support orderly participation of minority shareholders and employees in
corporate governance, endorse employee directors and supervisors, and encourage
protection of employee and stakeholder complaints and whistleblowing on illegal
or non-compliant conduct.
