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 and strictly control shareholders' entry gates. Establish a “firewall” for industrial capital and financial capital, and strictly prohibit enterprises that operate across industries in violation of regulations, have excessive leverage, or have serious untrustworthy behavior or records of major violations of laws and regulations to become major shareholders or actual controllers of financial institutions. Penetrably identify major shareholders, actual controllers, and beneficial owners of financial institutions, strengthen the reporting obligations of major shareholders and actual controllers, strictly prohibit concealing control relationships, relationships, and concerted action relationships, and strictly prevent false investment, revolving capital injections, and capital evasion.

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