The Code is a programmatic system of corporate governance in China's banking and insurance industry, with a total of * * *1chapter1kloc-0/7 articles, including general provisions, party leadership, shareholders and shareholders' meetings, directors and boards of directors, supervisors and supervisory committees, senior management, stakeholders and social responsibilities, incentive and restraint mechanisms, and information. Fully based on China's national conditions, pay attention to learn from good practices at home and abroad.
First, the requirement of the organic combination of party leadership and corporate governance is formally written into the supervision system. In order to implement the decision-making and deployment of the CPC Central Committee, the Code has a separate chapter, which for the first time puts forward the overall requirements of the organic combination of party leadership and corporate governance in state-owned institutions, and clarifies that private institutions should actively play the political core role of party organizations.
The second is to absorb and integrate the core concepts and related expressions of existing banking supervision and insurance supervision. The existing corporate governance supervision systems in banking and insurance have their own advantages and characteristics. This standard absorbs the advantages of two types of supervision and unifies the corporate governance supervision requirements of commercial banks and insurance institutions.
Third, actively respond to the advocacy requirements of G20/OECD corporate governance principles. The Code draws lessons from the good practices advocated by G20/OECD Principles of Corporate Governance, such as paying attention to protecting the rights and interests of minority shareholders, requiring directors to treat all shareholders fairly, making it clear that the board of directors should implement high standards of professional ethics, paying attention to protecting the legitimate rights and interests of stakeholders, and encouraging and supporting employees to participate in corporate governance.