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 accuracy of supervision. Adhere to risk orientation and implement classification supervision. Promote financial institutions to establish and improve governance structures that are compatible with asset size, risk characteristics, and equity structures. Strengthen the identification and regulation of the control rights of financial institutions, and implement penetrating supervision of shareholders' equity and related transactions in accordance with the principle that substance is more important than form.

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