China Financial Regulators Issue 22 Measures to Establish Governance Mechanism by 2029

Four Chinese departments issued 22 measures to standardize financial institution governance by 2029, enforcing strict shareholder rules, capital firewalls, and lifelong accountability for violations.

Woofun AI reports that the Financial Regulatory Administration, the Central Bank, the Securities Regulatory Commission, and the Ministry of Finance jointly released the "Implementation Opinions on Improving the Governance of Financial Institutions" on July 31. The framework proposes 22 measures designed to establish a governance system with clear responsibility boundaries, compatible incentives, strict risk management, and efficient operations by 2029.

Key provisions include stringent entry requirements for shareholders, the construction of a "firewall" between industrial and financial capital, and penetrating identification of major shareholders and actual controllers to prohibit concealed control rights. The measures also mandate strict regulation of shareholder behavior to prevent benefit transfers, strengthen responsibilities for directors and senior executives to prevent the "flow of individuals with violations," implement lifelong accountability for major illegal acts, and promote early intervention for institutions with significant governance defects.