China's four regulatory agencies release 22 measures to enhance financial institution governance by 2029.

ME News reports that on July 31 (UTC+8), four government departments—the Financial Regulatory Authority, the People’s Bank of China, the China Securities Regulatory Commission, and the Ministry of Finance—jointly issued the "Implementation Opinions on Improving Financial Institution Governance," outlining 22 measures aimed at establishing a clear, well-defined, incentive-compatible, rigorously risk-managed, and efficiently operating governance framework for financial institutions by 2029. Key initiatives include: strictly controlling shareholder eligibility, establishing a "firewall" between industrial and financial capital, conducting transparent identification of major shareholders and actual controllers, and prohibiting concealment of control rights and related relationships; strictly regulating shareholder conduct and forbidding the transfer of benefits to shareholders or their affiliates; strengthening accountability for directors, senior management, and other "key minorities," and preventing individuals with a history of violations from moving between institutions; implementing lifetime accountability for serious violations; initiating early intervention for institutions with significant governance deficiencies; and advancing revisions to key laws and regulations in the financial sector to improve systems governing shareholder equity, corporate governance, and market exit mechanisms. (Source: ChainCatcher)