China Association of Listed Companies: promote the continuous improvement of the governance level of listed companies

2022-07-11 0 By

The China Association of Listed Companies (CAAC) said on April 8 that it will continue to guide listed companies to standardize their development, improve corporate governance and better serve economic and social development by promoting high-quality development.China Association of Listed Companies participated in the construction of the “1+X” system to improve corporate governance. It took more than two years to complete the first revision of the Guidelines for Governance of Listed Companies since 2002, laying a solid institutional foundation for the governance of listed companies in the new era.Cooperate with CSRC to revise company Law, formulate Regulations on Supervision of Listed Companies, Guidelines on The Establishment of Independent Director System in Listed Companies and Guidelines on Articles of Association of Listed Companies.Centering on the implementation of the Code for Governance of Listed Companies, the compilation of the code interpretation and supporting self-discipline rules will be carried out to improve the system of governance of listed companies.It has compiled and published guidelines on The Performance of Duties by Independent Directors of Listed Companies, Guidelines on the Work of supervisory Boards of Listed Companies, guidelines on the Work of Independent Directors’ Participation in internal Control of Listed Companies, and compiled guidelines on the Work of Audit Committees of Listed Companies.The association has organized closed-door meetings and research symposiums on the independent director system of listed companies for many times to analyze and study issues related to the independent director system in China, form relevant research reports, and develop and establish an independent director talent information database.Relying on the Secretary committee of the Board of Directors, the Committee of the Chief Financial Officer and other professional committees, to carry out research on special issues.Activities such as the performance of directors, supervision of senior directors, risk prevention of independent directors, performance of directors’ secretaries, investor relations management and ESG theme salon will be held.Compile major research reports of the Association, and form research Reports on Improving The Governance of Listed Companies (2014-2021 Series), Business Environment Research Reports (2013-2020 Series), and International Rules and Practices of Corporate Governance (2019-2020 series) for listed companies to learn and improve together.By advocating best practices in corporate governance, the Association sets up governance models for listed companies and promotes the improvement of corporate governance.The Association attaches great importance to the ESG work of listed companies. In recent years, it has actively promoted listed companies to establish and practice the ESG development concept through communication, advocacy, training and other ways.In order to promote listed companies based on the new development stage, implement the new development concept, build a new development pattern, and do a good job in ESG related work, the association launched a collection of ESG excellent practice cases of listed companies, and finally selected 133 excellent cases from 25 jurisdictions and compiled them into a book.The Association collaborated with China Securities Index Company to write and publish the White Paper on the DEVELOPMENT of ESG of Chinese Listed Companies, comprehensively analyzing and summarizing the current situation of INFORMATION disclosure of ESG of Chinese listed companies and the development performance of ESG, providing an important reference for Chinese enterprises to formulate ESG development strategy, and providing a window for all sectors of society to understand the development of ESG of Chinese listed companies.It is understood that, in the next step, the association will focus on promoting the high-quality development of listed companies, and continue to guide the standardized development of listed companies, improve the level of corporate governance, and better serve the economic and social development.As an important carrier of communication between listed companies and investors, performance statement is also an important bridge for companies to transfer value and investors to discover value.In recent years, under the push of the securities and futures commission, State-owned Assets Supervision and Administration Commission of the State Council, China’s listed companies association seriously implement the “state council on further improving the quality of the listed company opinions, guide the practice of listed companies to the people as the center of the concept of high quality development, positive, active at performance presentation, show the value of the company, reduce the distance with investors.Since last year, performance presentation meetings have achieved good results.The number of meetings in 2021 has grown by leaps and bounds.The total number of companies holding the 2020 performance presentation meeting in Shanghai and Shenzhen reached 3756, accounting for nearly 90% of the total number of companies that have disclosed their annual reports.Csi 300 index companies, “A+H” listed companies, listed companies controlled by central enterprises, science and technology innovation board and science and technology innovation board companies and other key companies promoted the meeting.At the same time, SIAC continues to strengthen its service and advocacy work.Last year, with the support of local governments, SIAC organized an online special training on “How to hold performance Presentation”, with nearly 20,000 participants, delivering regulatory requirements, inviting experience sharing and providing practical operation guidance for the company.In 2022, the upper middle of the launch “information disclosure of listed companies” series of courses, from the latest information disclosure laws, regulations and regulatory requirements, ESG, environmental information, performance presentation, etc, to help enhance the level of information disclosure of listed companies, a series of training attention, to participate in training high dong supervisor of listed companies and related personnel has reached more than 9000 people.Shanghai Association said that the next step, will actively coordinate the advantages of various platforms in the market, to form a joint force, to provide basic guarantee for listed companies to do a good job in performance presentations, and organize face-to-face presentations between listed companies and institutions;Will continue to carry out performance presentation of full market investigation, improve the occasion, indicated good performance and best case selection, through the way of commendation advanced company to establish the benchmark, form the demonstration effect, bring more high quality of listed companies performance presentation, which are held in open investors and the communication channels of the company, and enhance the level of information disclosure is effective and standard operation.(Media reporter Yang Litian)