The General Administration of Financial Supervision, the People's Bank of China, the China Securities Regulatory Commission, and the Ministry of Finance recently jointly issued the “Implementation Opinions on Improving the Governance of Financial Institutions”, which proposed 22 measures. The “Implementation Opinions” are clear to improve the quality and efficiency of the operation of the board of directors, etc. The board of directors carries out major decision-making and supervisory duties in accordance with law and regulations, and gives full play to its main role in decision-making. Optimize the board structure and clarify board responsibilities by combining factors such as institutional positioning, equity structure, directors' work experience, professional expertise, gender, age, etc. Reasonably set requirements for the share of directors nominated by the same shareholders and their related parties in the board of directors. Directors must perform their duties faithfully and diligently, and are responsible to stakeholders such as financial institutions, employees, and financial consumers. Strengthen directors' performance guarantees and performance evaluations. Where a board of supervisors or supervisors is established, the supervisory role must be fully played.

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