Global EditionASIA 中文雙語(yǔ)Fran?ais
    Business
    Home / Business / Finance

    Trial measures issued to regulate major shareholders

    By Jiang Xueqing | chinadaily.com.cn | Updated: 2021-10-14 22:55
    Share
    Share - WeChat
    [Photo/Sipa]

    China issued trial measures for regulation of major shareholders of banking and insurance institutions on Thursday to prevent them from intervening in the business of these institutions through rule violations.

    In recent years, a small number of major shareholders of banking and insurance institutions abused shareholder rights, intervened in the business of these institutions improperly, broke rules to seek control of the institutions, transferred benefits and assets through related-party transactions and severely damaged the legitimate rights and interests of minority shareholders and financial service consumers, an official of the China Banking and Insurance Regulatory Commission said.

    As a result, the country's top banking and insurance regulator launched trial measures to further strengthen regulation of major shareholders' behaviors, forcing them to exercise rights properly and fulfill their obligations in accordance with the law so China's banking and insurance institutions will maintain steady operation, the official said.

    According to the measures, major shareholders of banking and insurance institutions, including those holding at least a 15 percent stake in a large State-controlled commercial bank, a national joint-stock commercial bank, a foreign bank, a privately-owned bank, an insurer, an asset management company, a financial leasing company, a consumer finance company or an auto finance company, those holding at least a 10 percent stake in a city or rural commercial bank, those holding the largest equity stake in a banking or insurance institution with an ownership of no less than 5 percent, those who nominated more than two directors of the board, and those who are considered by the board of directors of a banking or insurance institution as having a controlling impact on the institution.

    For a major shareholder who pledged more than 50 percent of equities it held in a banking or insurance institution for financing, the shareholder and the directors they nominated are not allowed to exercise voting rights at the shareholders' meetings and meetings of the board of directors, according to the measures.

    The CBIRC emphasized major shareholders should use their own capital to buy shares of banking and insurance institutions. It stressed ownership authenticity and transparency, and further regulated behaviors like cross-ownership and equity pledge.

    The regulator clarified behavioral norms for major shareholders to participate in corporate governance of banking and financial institutions, forbidding improper intervention in business and clarified the patterns of improper related-party transactions.

    Moreover, it further clarified the duties and responsibilities of major shareholders in several areas, such as implementing regulations, helping with risk disposal, reporting of business information and replenishing capital.

    The regulator encouraged banking and insurance institutions to make lists of major shareholder rights and obligations, as well as negative behaviors, apart from requiring them to assess the performance of major shareholders annually. Institutions should also seek compensation for losses caused by the abuse of shareholder rights by major shareholders in accordance with the law, it said.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    13小箩利洗澡无码视频网站免费| 无码国模国产在线无码精品国产自在久国产 | 亚洲美日韩Av中文字幕无码久久久妻妇 | 日韩av无码免费播放| 亚洲AV中文无码乱人伦在线视色| 亚洲av中文无码乱人伦在线r▽ | 精品久久久久久无码国产| 国产成人无码AⅤ片在线观看| 亚洲熟妇中文字幕五十中出| 国产精品无码v在线观看| 亚洲av永久无码精品古装片 | 亚洲AV无码一区二区乱子伦| 欧美日韩中文在线视免费观看| 日韩美无码五月天| 精品无码人妻一区二区三区品 | 日本中文一区二区三区亚洲| 一本大道无码日韩精品影视| 久久久久亚洲av成人无码电影| 少妇无码AV无码专区线| 亚洲av永久无码制服河南实里 | 亚洲熟妇无码乱子AV电影| 人妻无码中文字幕免费视频蜜桃| 痴汉中文字幕视频一区| 中文字幕一区二区人妻| 亚洲午夜无码久久久久小说| 五月婷婷无码观看| 亚洲av无码不卡私人影院| 丰满白嫩人妻中出无码| 国产AV无码专区亚洲AV男同| 久久精品aⅴ无码中文字字幕不卡 久久精品aⅴ无码中文字字幕重口 | 精品无码三级在线观看视频| 东京热加勒比无码少妇| 国产精品99精品无码视亚| 国产AV无码专区亚洲AVJULIA| 精品人妻大屁股白浆无码 | 无码久久精品国产亚洲Av影片| 亚洲动漫精品无码av天堂| 亚洲AV无码欧洲AV无码网站| 日韩精品久久无码中文字幕| 国产v亚洲v天堂无码网站| 无码任你躁久久久久久久|