What are the five independent principles of listed companies?

The correct statement is the "three independence principles" and "five separation principles" of listed companies. \x0d\ 1。 "Three independences" means that the joint-stock company should have an independent production, supply and marketing system and an independent business ability directly facing the market. \x0d\ II。 The "five separation" between listed companies and controlling shareholders means that listed companies and major shareholders should separate people, assets and finance, and their institutions and businesses should be independent, accounting independently, and taking responsibility and risks independently. \x0d\ 1。 Business separation mainly means that promoters and joint-stock companies are not allowed to engage in the same business, resulting in vicious competition, which may damage the interests of listed companies after listing. This is an inevitable requirement to avoid related party transactions and horizontal competition. \x0d\ 2。 Separation of assets means that the assets of promoters and shareholders should not be confused with those of joint-stock companies, and even less should they be taken as their own. Strictly speaking, this is the basic requirement of the company law for shareholders' capital contribution, and it is also the basis of the independence of the company as a legal person. \x0d\ 3。 The main purpose of personnel separation is to avoid the intersection of business, finance and even assets caused by cross-employment. In addition, the cross-employment of personnel greatly reduces the neutrality, and it is bound to lose sight of one thing and lose sight of another when dealing with related affairs, which is very unfavorable to listed companies. \x0d\ 4。 Institutional separation means that the company's board of directors, shareholders' meeting and board of supervisors should not overlap or be confused with shareholders' institutions. Institutions are the birthplace of corporate decision-making. If the organization is chaotic, the will of the company will not be independent, and it will be difficult to protect the interests of listed companies. \x0d\ 5。 Financial separation means that the shareholders or sponsors of a joint-stock company and the financial system should operate independently. Financial system often involves assets, creditor's rights and debts, and company operating costs. Therefore, financial independence is really necessary.