Local governments, the National Development and Reform Commission and other government departments are mainly responsible for enterprise market operation and supervision of enterprise projects.
China Securities Regulatory Commission is responsible for the supervision and management of capital market business such as initial public offering, new share issuance and bond issuance. There will be many subdivision departments within the CSRC to be responsible for the subdivision of listed companies.
Shenzhen Stock Exchange and Shanghai Stock Exchange are mainly responsible for the daily supervision and information disclosure of listed companies.
Legal basis: People's Republic of China (PRC) Company Law.
Article 121 The term "listed stocks" as mentioned in this Law refers to stocks whose shares are listed and traded on stock exchanges.
Article 122 If a listed company purchases or sells major assets within one year, or the amount of guarantee exceeds 30% of the company's total assets, it shall make a resolution, which shall be passed by more than two-thirds of the voting rights held by shareholders present at the meeting.
Article 123 Specific measures for the listing of independent directors shall be formulated by the State Council.
Article 124 A listed company shall have a secretary of the board of directors, who shall be responsible for the preparation, document keeping, shareholder information management and information disclosure of shareholders' general meetings and board meetings.
Article 125 Where a director of a listed company has an associated relationship with the enterprise involved in the resolution of the board of directors, he shall not exercise the right to vote on the resolution, nor shall he exercise the right to vote on behalf of other directors. The board meeting can only be held when more than half of the unrelated directors are present, and the resolutions made at the board meeting must be passed by more than half of the unrelated directors. If there are less than three unrelated directors present at the board of directors, they shall be submitted to the shareholders' meeting of the listed company for deliberation.