上市公司治理準(zhǔn)則(中英)
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上市公司治理準(zhǔn)則(中英)
作者：佚名 企業(yè)治理來(lái)源：本站原創(chuàng) 點(diǎn)擊數(shù)：1018 更新時(shí)間：2010-7-2
導(dǎo)言
為推動(dòng)上市公司建立和完善現(xiàn)代企業(yè)制度，規(guī)范上市公司運(yùn)作，促進(jìn)我國(guó)證券市場(chǎng)健康發(fā)展，根據(jù)《公司法》、《證券法》及其它相關(guān)法律、法規(guī)確定的基本原則，并參照國(guó)外公司治理實(shí)踐中普遍認(rèn)同的標(biāo)準(zhǔn)，制訂本準(zhǔn)則。
本準(zhǔn)則闡明了我國(guó)上市公司治理的基本原則、投資者權(quán)利保護(hù)的實(shí)現(xiàn)方式，以及上市公司董事、監(jiān)事、經(jīng)理等高級(jí)管理人員所應(yīng)當(dāng)遵循的基本的行為準(zhǔn)則和職業(yè)道德等內(nèi)容。
本準(zhǔn)則適用于中國(guó)境內(nèi)的上市公司。上市公司改善公司治理，應(yīng)當(dāng)貫徹本準(zhǔn)則所闡述的精神。上市公司制定或者修改公司章程及治理細(xì)則，應(yīng)當(dāng)體現(xiàn)本準(zhǔn)則所列明的內(nèi)容。本準(zhǔn)則是評(píng)判上市公司是否具有良好的公司治理結(jié)構(gòu)的主要衡量標(biāo)準(zhǔn)，對(duì)公司治理存在重大問題的上市公司，證券監(jiān)管機(jī)構(gòu)將責(zé)令其按照本準(zhǔn)則的要求進(jìn)行整改。
第一章 股東與股東大會(huì)
第一節(jié) 股東權(quán)利
第一條 股東作為公司的所有者，享有法律、行政法規(guī)和公司章程規(guī)定的合法權(quán)利。上市公司應(yīng)建立能夠確保股東充分行使權(quán)利的公司治理結(jié)構(gòu)。
第二條 上市公司的治理結(jié)構(gòu)應(yīng)確保所有股東，特別是中小股東享有平等地位。股東按其持有的股份享有平等的權(quán)利，并承擔(dān)相應(yīng)的義務(wù)。
第三條 股東對(duì)法律、行政法規(guī)和公司章程規(guī)定的公司重大事項(xiàng)，享有知情權(quán)和參與權(quán)。上市公司應(yīng)建立和股東溝通的有效渠道。
第四條 股東有權(quán)按照法律、行政法規(guī)的規(guī)定，通過民事訴訟或其他法律手段保護(hù)其合法權(quán)利。股東大會(huì)、董事會(huì)的決議違反法律、行政法規(guī)的規(guī)定，侵犯股東合法權(quán)益，股東有權(quán)依法提起要求停止上述違法行為或侵害行為的訴訟。董事、監(jiān)事、經(jīng)理執(zhí)行職務(wù)時(shí)違反法律、行政法規(guī)或者公司章程的規(guī)定，給公司造成損害的，應(yīng)承擔(dān)賠償責(zé)任。股東有權(quán)要求公司依法提起要求賠償?shù)脑V訟。
第二節(jié) 股東大會(huì)的規(guī)范
第五條 上市公司應(yīng)在公司章程中規(guī)定股東大會(huì)的召開和表決程序，包括通知、登記、提案的審議、投票、計(jì)票、表決結(jié)果的宣布、會(huì)議決議的形成、會(huì)議記錄及其簽署、公告等。
第六條 董事會(huì)應(yīng)認(rèn)真審議并安排股東大會(huì)審議事項(xiàng)。股東大會(huì)應(yīng)給予每個(gè)提案合理的討論時(shí)間。
第七條 上市公司應(yīng)在公司章程中規(guī)定股東大會(huì)對(duì)董事會(huì)的授權(quán)原則，授權(quán)內(nèi)容應(yīng)明確具體。
第八條 上市公司應(yīng)在保證股東大會(huì)合法、有效的前提下，通過各種方式和途徑，包括充分運(yùn)用現(xiàn)代信息技術(shù)手段，擴(kuò)大股東參與股東大會(huì)的比例。股東大會(huì)時(shí)間、地點(diǎn)的選擇應(yīng)有利于讓盡可能多的股東參加會(huì)議。
第九條 股東既可以親自到股東大會(huì)現(xiàn)場(chǎng)投票，也可以委托代理人代為投票，兩者具有同樣的法律效力。
第十條 上市公司董事會(huì)、獨(dú)立董事和符合有關(guān)條件的股東可向上市公司股東征集其在股東大會(huì)上的投票權(quán)。投票權(quán)征集應(yīng)采取無(wú)償?shù)姆绞竭M(jìn)行，并應(yīng)向被征集人充分披露信息。
第十一條 機(jī)構(gòu)投資者應(yīng)在公司董事選任、經(jīng)營(yíng)者激勵(lì)與監(jiān)督、重大事項(xiàng)決策等方面發(fā)揮作用。
第三節(jié) 關(guān)聯(lián)交易
第十二條 上市公司與關(guān)聯(lián)人之間的關(guān)聯(lián)交易應(yīng)簽訂書面協(xié)議。協(xié)議的簽訂應(yīng)當(dāng)遵循平等、自愿、等價(jià)、有償?shù)脑瓌t，協(xié)議內(nèi)容應(yīng)明確、具體。公司應(yīng)將該協(xié)議的訂立、變更、終止及履行情況等事項(xiàng)按照有關(guān)規(guī)定予以披露。
第十三條 上市公司應(yīng)采取有效措施防止關(guān)聯(lián)人以壟斷采購(gòu)和銷售業(yè)務(wù)渠道等方式干預(yù)公司的經(jīng)營(yíng)，損害公司利益。關(guān)聯(lián)交易活動(dòng)應(yīng)遵循商業(yè)原則,
關(guān)聯(lián)交易的價(jià)格原則上應(yīng)不偏離市場(chǎng)獨(dú)立第三方的價(jià)格或收費(fèi)的標(biāo)準(zhǔn)。公司應(yīng)對(duì)關(guān)聯(lián)交易的定價(jià)依據(jù)予以充分披露。
第十四條 上市公司的資產(chǎn)屬于公司所有。上市公司應(yīng)采取有效措施防止股東及其關(guān)聯(lián)方以各種形式占用或轉(zhuǎn)移公司的資金、資產(chǎn)及其他資源。上市公司不得為股東及其關(guān)聯(lián)方提供擔(dān)保。
第二章 控股股東與上市公司
第一節(jié) 控股股東行為的規(guī)范
第十五條 控股股東對(duì)擬上市公司改制重組時(shí)應(yīng)遵循先改制、后上市的原則，并注重建立合理制衡的股權(quán)結(jié)構(gòu)。
第十六條 控股股東對(duì)擬上市公司改制重組時(shí)應(yīng)分離其社會(huì)職能，剝離非經(jīng)營(yíng)性資產(chǎn)，非經(jīng)營(yíng)性機(jī)構(gòu)、福利性機(jī)構(gòu)及其設(shè)施不得進(jìn)入上市公司。
第十七條 控股股東為上市公司主業(yè)服務(wù)的存續(xù)企業(yè)或機(jī)構(gòu)可以按照專業(yè)化、市場(chǎng)化的原則改組為專業(yè)化公司，并根據(jù)商業(yè)原則與上市公司簽訂有關(guān)協(xié)議。從事其他業(yè)務(wù)的存續(xù)企業(yè)應(yīng)增強(qiáng)其獨(dú)立發(fā)展的能力。無(wú)繼續(xù)經(jīng)營(yíng)能力的存續(xù)企業(yè)，應(yīng)按有關(guān)法律、法規(guī)的規(guī)定，通過實(shí)施破產(chǎn)等途徑退出市場(chǎng)。企業(yè)重組時(shí)具備一定條件的，可以一次性分離其社會(huì)職能及分流富余人員，不保留存續(xù)企業(yè)。
第十八條 控股股東應(yīng)支持上市公司深化勞動(dòng)、人事、分配制度改革，轉(zhuǎn)換經(jīng)營(yíng)管理機(jī)制，建立管理人員競(jìng)聘上崗、能上能下，職工擇優(yōu)錄用、能進(jìn)能出，收入分配能增能減、有效激勵(lì)的各項(xiàng)制度。
第十九條 控股股東對(duì)上市公司及其他股東負(fù)有誠(chéng)信義務(wù)。控股股東對(duì)其所控股的上市公司應(yīng)嚴(yán)格依法行使出資人的權(quán)利，控股股東不得利用資產(chǎn)重組等方式損害上市公司和其他股東的合法權(quán)益，不得利用其特殊地位謀取額外的利益。
第二十條 控股股東對(duì)上市公司董事、監(jiān)事候選人的提名，應(yīng)嚴(yán)格遵循法律、法規(guī)和公司章程規(guī)定的條件和程序。控股股東提名的董事、監(jiān)事候選人應(yīng)當(dāng)具備相關(guān)專業(yè)知識(shí)和決策、監(jiān)督能力。控股股東不得對(duì)股東大會(huì)人事選舉決議和董事會(huì)人事聘任決議履行任何批準(zhǔn)手續(xù)；不得越過股東大會(huì)、董事會(huì)任免上市公司的高級(jí)管理人員。
第二十一條 上市公司的重大決策應(yīng)由股東大會(huì)和董事會(huì)依法作出。控股股東不得直接或間接干預(yù)公司的決策及依法開展的生產(chǎn)經(jīng)營(yíng)活動(dòng)，損害公司及其他股東的權(quán)益。
第二節(jié) 上市公司的獨(dú)立性
第二十二條 控股股東與上市公司應(yīng)實(shí)行人員、資產(chǎn)、財(cái)務(wù)分開，機(jī)構(gòu)、業(yè)務(wù)獨(dú)立，各自獨(dú)立核算、獨(dú)立承擔(dān)責(zé)任和風(fēng)險(xiǎn)。
第二十三條 上市公司人員應(yīng)獨(dú)立于控股股東。上市公司的經(jīng)理人員、財(cái)務(wù)負(fù)責(zé)人、營(yíng)銷負(fù)責(zé)人和董事會(huì)秘書在控股股東單位不得擔(dān)任除董事以外的其他職務(wù)。控股股東高級(jí)管理人員兼任上市公司董事的，應(yīng)保證有足夠的時(shí)間和精力承擔(dān)上市公司的工作。
第二十四條 控股股東投入上市公司的資產(chǎn)應(yīng)獨(dú)立完整、權(quán)屬清晰。控股股東以非貨幣性資產(chǎn)出資的，應(yīng)辦理產(chǎn)權(quán)變更手續(xù)，明確界定該資產(chǎn)的范圍。上市公司應(yīng)當(dāng)對(duì)該資產(chǎn)獨(dú)立登記、建帳、核算、管理。控股股東不得占用、支配該資產(chǎn)或干預(yù)上市公司對(duì)該資產(chǎn)的經(jīng)營(yíng)管理。
第二十五條 上市公司應(yīng)按照有關(guān)法律、法規(guī)的要求建立健全的財(cái)務(wù)、會(huì)計(jì)管理制度，獨(dú)立核算。控股股東應(yīng)尊重公司財(cái)務(wù)的獨(dú)立性，不得干預(yù)公司的財(cái)務(wù)、會(huì)計(jì)活動(dòng)。
第二十六條 上市公司的董事會(huì)、監(jiān)事會(huì)及其他內(nèi)部機(jī)構(gòu)應(yīng)獨(dú)立運(yùn)作。控股股東及其職能部門與上市公司及其職能部門之間沒有上下級(jí)關(guān)系。控股股東及其下屬機(jī)構(gòu)不得向上市公司及其下屬機(jī)構(gòu)下達(dá)任何有關(guān)上市公司經(jīng)營(yíng)的計(jì)劃和指令，也不得以其他任何形式影響其經(jīng)營(yíng)管理的獨(dú)立性。
第二十七條 上市公司業(yè)務(wù)應(yīng)完全獨(dú)立于控股股東。控股股東及其下屬的其他單位不應(yīng)從事與上市公司相同或相近的業(yè)務(wù)。控股股東應(yīng)采取有效措施避免同業(yè)競(jìng)爭(zhēng)。
第三章 董事與董事會(huì)
第一節(jié) 董事的選聘程序
第二十八條 上市公司應(yīng)在公司章程中規(guī)定規(guī)范、透明的董事選聘程序，保證董事選聘公開、公平、公正、獨(dú)立。
第二十九條 上市公司應(yīng)在股東大會(huì)召開前披露董事候選人的詳細(xì)資料，保證股東在投票時(shí)對(duì)候選人有足夠的了解。
第三十條 董事候選人應(yīng)在股東大會(huì)召開之前作出書面承諾，同意接受提名，承諾公開披露的董事候選人的資料真實(shí)、完整并保證當(dāng)選后切實(shí)履行董事職責(zé)。
第三十一條 在董事的選舉過程中，應(yīng)充分反映中小股東的意見。股東大會(huì)在董事選舉中應(yīng)積極推行累積投票制度。控股股東控股比例在30%以上的上市公司，應(yīng)當(dāng)采用累積投票制。采用累積投票制度的上市公司應(yīng)在公司章程里規(guī)定該制度的實(shí)施細(xì)則。
第三十二條 上市公司應(yīng)和董事簽訂聘任合同，明確公司和董事之間的權(quán)利義務(wù)、董事的任期、董事違反法律法規(guī)和公司章程的責(zé)任以及公司因故提前解除合同的補(bǔ)償?shù)葍?nèi)容。
第二節(jié) 董事的義務(wù)
第三十三條 董事應(yīng)根據(jù)公司和全體股東的最大利益，忠實(shí)、誠(chéng)信、勤勉地履行職責(zé)。
第三十四條 董事應(yīng)保證有足夠的時(shí)間和精力履行其應(yīng)盡的職責(zé)。
第三十五條 董事應(yīng)以認(rèn)真負(fù)責(zé)的態(tài)度出席董事會(huì)，對(duì)所議事項(xiàng)表達(dá)明確的意見。董事確實(shí)無(wú)法親自出席董事會(huì)的，可以書面形式委托其他董事按委托人的意愿代為投票，委托人應(yīng)獨(dú)立承擔(dān)法律責(zé)任。
第三十六條 董事應(yīng)遵守有關(guān)法律、法規(guī)及公司章程的規(guī)定，嚴(yán)格遵守其公開作出的承諾。
第三十七條 董事應(yīng)積極參加有關(guān)培訓(xùn), 以了解作為董事的權(quán)利、義務(wù)和責(zé)任, 熟悉有關(guān)法律法規(guī), 掌握作為董事應(yīng)具備的相關(guān)知識(shí)。
第三十八條 董事會(huì)決議違反法律、法規(guī)和公司章程的規(guī)定，致使公司遭受損失的，參與決議的董事對(duì)公司承擔(dān)賠償責(zé)任。但
經(jīng)證明在表決時(shí)曾表明異議并記載于會(huì)議記錄的董事除外。
第三十九條 經(jīng)股東大會(huì)批準(zhǔn)，上市公司可以為董事購(gòu)買責(zé)任保險(xiǎn)。但董事因違反法律法規(guī)和公司章程規(guī)定而導(dǎo)致的責(zé)任除外。
第三節(jié) 董事會(huì)的構(gòu)成和職責(zé)
第四十條 董事會(huì)的人數(shù)及人員構(gòu)成應(yīng)符合有關(guān)法律、法規(guī)的要求，確保董事會(huì)能夠進(jìn)行富有成效的討論，作出科學(xué)、迅速和謹(jǐn)慎的決策。
第四十一條 董事會(huì)應(yīng)具備合理的專業(yè)結(jié)構(gòu)，其成員應(yīng)具備履行職務(wù)所必需的的知識(shí)、技能和素質(zhì)。
第四十二條 董事會(huì)向股東大會(huì)負(fù)責(zé)。上市公司治理結(jié)構(gòu)應(yīng)確保董事會(huì)能夠按照法律、法規(guī)和公司章程的規(guī)定行使職權(quán)。
第四十三條 董事會(huì)應(yīng)認(rèn)真履行有關(guān)法律、法規(guī)和公司章程規(guī)定的職責(zé)，確保公司遵守法律、法規(guī)和公司章程的規(guī)定，公平對(duì)待所有股東，并關(guān)注其他利益相關(guān)者的利益。
第四節(jié) 董事會(huì)議事規(guī)則
第四十四條 上市公司應(yīng)在公司章程中規(guī)定規(guī)范的董事會(huì)議事規(guī)則，確保董事會(huì)高效運(yùn)作和科學(xué)決策。
第四十五條 董事會(huì)應(yīng)定期召開會(huì)議,并根據(jù)需要及時(shí)召開臨時(shí)會(huì)議。董事會(huì)會(huì)議應(yīng)有事先擬定的議題。
第四十六條 上市公司董事會(huì)會(huì)議應(yīng)嚴(yán)格按照規(guī)定的程序進(jìn)行。董事會(huì)應(yīng)按規(guī)定的時(shí)間事先通知所有董事，并提供足夠的資料，包括會(huì)議議題的相關(guān)背景材料和有助于董事理解公司業(yè)務(wù)進(jìn)展的信息和數(shù)據(jù)。當(dāng)2名或2名以上獨(dú)立董事認(rèn)為資料不充分或論證不明確時(shí)，可聯(lián)名以書面形式向董事會(huì)提出延期召開董事會(huì)會(huì)議或延期審議該事項(xiàng)，董事會(huì)應(yīng)予以采納。
第四十七條 董事會(huì)會(huì)議記錄應(yīng)完整、真實(shí)。董事會(huì)秘書對(duì)會(huì)議所議事項(xiàng)要認(rèn)真組織記錄和整理。出席會(huì)議的董事、董事會(huì)秘書和記錄人應(yīng)在會(huì)議記錄上簽名。董事會(huì)會(huì)議記錄應(yīng)作為公司重要檔案妥善保存，以作為日后明確董事責(zé)任的重要依據(jù)。
第四十八條 董事會(huì)授權(quán)董事長(zhǎng)在董事會(huì)閉會(huì)期間行使董事會(huì)部分職權(quán)的，上市公司應(yīng)在公司章程中明確規(guī)定授權(quán)原則和授權(quán)內(nèi)容，授權(quán)內(nèi)容應(yīng)當(dāng)明確、具體。凡涉及公司重大利益的事項(xiàng)應(yīng)由董事會(huì)集體決策。
第五節(jié) 獨(dú)立董事制度
第四十九條 上市公司應(yīng)按照有關(guān)規(guī)定建立獨(dú)立董事制度。獨(dú)立董事應(yīng)獨(dú)立于所受聘的公司及其主要股東。獨(dú)立董事不得在上市公司擔(dān)任除獨(dú)立董事外的其他任何職務(wù)。
第五十條 獨(dú)立董事對(duì)公司及全體股東負(fù)有誠(chéng)信與勤勉義務(wù)。獨(dú)立董事應(yīng)按照相關(guān)法律、法規(guī)、公司章程的要求，認(rèn)真履行職責(zé)，維護(hù)公司整體利益，尤其要關(guān)注中小股東的合法權(quán)益不受損害。獨(dú)立董事應(yīng)獨(dú)立履行職責(zé)，不受公司主要股東、實(shí)際控制人、以及其他與上市公司存在利害關(guān)系的單位或個(gè)人的影響。
第五十一條 獨(dú)立董事的任職條件、選舉更換程序、職責(zé)等，應(yīng)符合有關(guān)規(guī)定。
第六節(jié) 董事會(huì)專門委員會(huì)
第五十二條 上市公司董事會(huì)可以按照股東大會(huì)的有關(guān)決議,設(shè)立戰(zhàn)略、審計(jì)、提名、薪酬與考核等專門委員會(huì)。專門委員會(huì)成員全部由董事組成，其中審計(jì)委員會(huì)、提名委員會(huì)、薪酬與考核委員會(huì)中獨(dú)立董事應(yīng)占多數(shù)并擔(dān)任召集人，審計(jì)委員會(huì)中至少應(yīng)有一名獨(dú)立董事是會(huì)計(jì)專業(yè)人士。
第五十三條 戰(zhàn)略委員會(huì)的主要職責(zé)是對(duì)公司長(zhǎng)期發(fā)展戰(zhàn)略和重大投資決策進(jìn)行研
究并提出建議。
第五十四條 審計(jì)委員會(huì)的主要職責(zé)是：（1）提議聘請(qǐng)或更換外部審計(jì)機(jī)構(gòu)；（2）監(jiān)督公司的內(nèi)部審計(jì)制度及其實(shí)施；（3）負(fù)責(zé)內(nèi)部審計(jì)與外部審計(jì)之間的溝通；（4）審核公司的財(cái)務(wù)信息及其披露；（5）審查公司的內(nèi)控制度。
第五十五條 提名委員會(huì)的主要職責(zé)是：（1）研究董事、經(jīng)理人員的選擇標(biāo)準(zhǔn)和程序并提出建議；（2）廣泛搜尋合格的董事和經(jīng)理人員的人選；（3）對(duì)董事候選人和經(jīng)理人選進(jìn)行審查并提出建議。
第五十六條 薪酬與考核委員會(huì)的主要職責(zé)是：（1）研究董事與經(jīng)理人員考核的標(biāo)準(zhǔn)，進(jìn)行考核并提出建議；（2）研究和審查董事、高級(jí)管理人員的薪酬政策與方案。
第五十七條 各專門委員會(huì)可以聘請(qǐng)中介機(jī)構(gòu)提供專業(yè)意見，有關(guān)費(fèi)用由公司承擔(dān)。
第五十八條 各專門委員會(huì)對(duì)董事會(huì)負(fù)責(zé)，各專門委員會(huì)的提案應(yīng)提交董事會(huì)審查決定。
第四章 監(jiān)事與監(jiān)事會(huì)
第一節(jié) 監(jiān)事會(huì)的職責(zé)
第五十九條 上市公司監(jiān)事會(huì)應(yīng)向全體股東負(fù)責(zé)，對(duì)公司財(cái)務(wù)以及公司董事、經(jīng)理和其他高級(jí)管理人員履行職責(zé)的合法合規(guī)性進(jìn)行監(jiān)督，維護(hù)公司及股東的合法權(quán)益。
第六十條 監(jiān)事有了解公司經(jīng)營(yíng)情況的權(quán)利，并承擔(dān)相應(yīng)的保密義務(wù)。監(jiān)事會(huì)可以獨(dú)立聘請(qǐng)中介機(jī)構(gòu)提供專業(yè)意見。
第六十一條 上市公司應(yīng)采取措施保障監(jiān)事的知情權(quán)，為監(jiān)事正常履行職責(zé)提供必要的協(xié)助，任何人不得干預(yù)、阻撓。監(jiān)事履行職責(zé)所需的合理費(fèi)用應(yīng)由公司承擔(dān)。
第六十二條 監(jiān)事會(huì)的監(jiān)督記錄以及進(jìn)行財(cái)務(wù)或?qū)ｍ?xiàng)檢查的結(jié)果應(yīng)成為對(duì)董事、經(jīng)理和其他高級(jí)管理人員績(jī)效評(píng)價(jià)的重要依據(jù)。
第六十三條 監(jiān)事會(huì)發(fā)現(xiàn)董事、經(jīng)理和其他高級(jí)管理人員存在違反法律、法規(guī)或公司章程的行為，可以向董事會(huì)、股東大會(huì)反映，也可以直接向證券監(jiān)管機(jī)構(gòu)及其他有關(guān)部門報(bào)告。
第二節(jié) 監(jiān)事會(huì)的構(gòu)成和議事規(guī)則
第六十四條 監(jiān)事應(yīng)具有法律、會(huì)計(jì)等方面的專業(yè)知識(shí)或工作經(jīng)驗(yàn)。監(jiān)事會(huì)的人員和結(jié)構(gòu)應(yīng)確保監(jiān)事會(huì)能夠獨(dú)立有效地行使對(duì)董事、經(jīng)理和其他高級(jí)管理人員及公司財(cái)務(wù)的監(jiān)督和檢查。
第六十五條 上市公司應(yīng)在公司章程中規(guī)定規(guī)范的監(jiān)事會(huì)議事規(guī)則。監(jiān)事會(huì)會(huì)議應(yīng)嚴(yán)格按規(guī)定程序進(jìn)行。
第六十六條 監(jiān)事會(huì)應(yīng)定期召開會(huì)議，并根據(jù)需要及時(shí)召開臨時(shí)會(huì)議。監(jiān)事會(huì)會(huì)議因故不能如期召開，應(yīng)公告說(shuō)明原因。
第六十七條 監(jiān)事會(huì)可要求公司董事、經(jīng)理及其他高級(jí)管理人員、內(nèi)部及外部審計(jì)人員出席監(jiān)事會(huì)會(huì)議，回答所關(guān)注的問題。
第六十八條 監(jiān)事會(huì)會(huì)議應(yīng)有記錄，出席會(huì)議的監(jiān)事和記錄人應(yīng)當(dāng)在會(huì)議記錄上簽字。監(jiān)事有權(quán)要求在記錄上對(duì)其在會(huì)議上的發(fā)言作出某種說(shuō)明性記載。監(jiān)事會(huì)會(huì)議記錄應(yīng)作為公司重要檔案妥善保存。
第五章 績(jī)效評(píng)價(jià)與激勵(lì)約束機(jī)制
第一節(jié) 董事、監(jiān)事、經(jīng)理人員的績(jī)效評(píng)價(jià)
第六十九條 上市公司應(yīng)建立公正透明的董事、監(jiān)事和經(jīng)理人員的績(jī)效評(píng)價(jià)標(biāo)準(zhǔn)和程序。
第七十條 董事和經(jīng)理人員的績(jī)效評(píng)價(jià)由董事會(huì)或其下設(shè)的薪酬與考核委員會(huì)負(fù)責(zé)組織。獨(dú)立董事、監(jiān)事的評(píng)價(jià)應(yīng)采取自我評(píng)價(jià)與相互評(píng)價(jià)相結(jié)合的方式進(jìn)行。
第七十一條 董事報(bào)酬的數(shù)額和方式由董事會(huì)提出方案報(bào)請(qǐng)股東大會(huì)決定。在董事會(huì)或薪酬與考核委員會(huì)對(duì)董事個(gè)人進(jìn)行評(píng)價(jià)或討論其報(bào)酬時(shí)，該董事應(yīng)當(dāng)回避。
第七十二條 董事會(huì)、監(jiān)事會(huì)應(yīng)當(dāng)向股東大會(huì)報(bào)告董事、監(jiān)事履行職責(zé)的情況、績(jī)效評(píng)價(jià)結(jié)果及其薪酬情況，并予以披露。
第二節(jié) 經(jīng)理人員的聘任
第七十三條 上市公司經(jīng)理人員的聘任，應(yīng)嚴(yán)格按照有關(guān)法律、法規(guī)和公司章程的規(guī)定進(jìn)行。任何組織和個(gè)人不得干預(yù)公司經(jīng)理人員的正常選聘程序。
第七十四條 上市公司應(yīng)盡可能采取公開、透明的方式，從境內(nèi)外人才市場(chǎng)選聘經(jīng)理人員，并充分發(fā)揮中介機(jī)構(gòu)的作用。
第七十五條 上市公司應(yīng)和經(jīng)理人員簽訂聘任合同，明確雙方的權(quán)利義務(wù)關(guān)系。
第七十六條 經(jīng)理的任免應(yīng)履行法定的程序，并向社會(huì)公告。
第三節(jié) 經(jīng)理人員的激勵(lì)與約束機(jī)制
第七十七條 上市公司應(yīng)建立經(jīng)理人員的薪酬與公司績(jī)效和個(gè)人業(yè)績(jī)相聯(lián)系的激勵(lì)機(jī)制，以吸引人才，保持經(jīng)理人員的穩(wěn)定。
第七十八條 上市公司對(duì)經(jīng)理人員的績(jī)效評(píng)價(jià)應(yīng)當(dāng)成為確定經(jīng)理人員薪酬以及其它激勵(lì)方式的依據(jù)。
第七十九條 經(jīng)理人員的薪酬分配方案應(yīng)獲得董事會(huì)的批準(zhǔn)，向股東大會(huì)說(shuō)明，并予以披露。
第八十條 上市公司應(yīng)在公司章程中明確經(jīng)理人員的職責(zé)。經(jīng)理人員違反法律、法規(guī)和公司章程規(guī)定，致使公司遭受損失的，公司董事會(huì)應(yīng)積極采取措施追究其法律責(zé)任。
第六章 利益相關(guān)者
第八十一條 上市公司應(yīng)尊重銀行及其它債權(quán)人、職工、消費(fèi)者、供應(yīng)商、社區(qū)等利益相關(guān)者的合法權(quán)利。
第八十二條 上市公司應(yīng)與利益相關(guān)者積極合作，共同推動(dòng)公司持續(xù)、健康地發(fā)展。
第八十三條 上市公司應(yīng)為維護(hù)利益相關(guān)者的權(quán)益提供必要的條件，當(dāng)其合法權(quán)益受到侵害時(shí)，利益相關(guān)者應(yīng)有機(jī)會(huì)和途徑獲得賠償。
第八十四條 上市公司應(yīng)向銀行及其它債權(quán)人提供必要的信息，以便其對(duì)公司的經(jīng)營(yíng)狀況和財(cái)務(wù)狀況作出判斷和進(jìn)行決策。
第八十五條 上市公司應(yīng)鼓勵(lì)職工通過與董事會(huì)、監(jiān)事會(huì)和經(jīng)理人員的直接溝通和交流，反映職工對(duì)公司經(jīng)營(yíng)、財(cái)務(wù)狀況以及涉及職工利益的重大決策的意見。
第八十六條 上市公司在保持公司持續(xù)發(fā)展、實(shí)現(xiàn)股東利益最大化的同時(shí)，應(yīng)關(guān)注所在社區(qū)的福利、環(huán)境保護(hù)、公益事業(yè)等問題，重視公司的社會(huì)責(zé)任。
第七章 信息披露與透明度
第一
節(jié) 上市公司的持續(xù)信息披露
第八十七條 持續(xù)信息披露是上市公司的責(zé)任。上市公司應(yīng)嚴(yán)格按照法律、法規(guī)和公司章程的規(guī)定，真實(shí)、準(zhǔn)確、完整、及時(shí)地披露信息。
第八十八條 上市公司除按照強(qiáng)制性規(guī)定披露信息外，應(yīng)主動(dòng)、及時(shí)地披露所有可能對(duì)股東和其它利益相關(guān)者決策產(chǎn)生實(shí)質(zhì)性影響的信息，并保證所有股東有平等的機(jī)會(huì)獲得信息。
第八十九條 上市公司披露的信息應(yīng)當(dāng)便于理解。上市公司應(yīng)保證使用者能夠通過經(jīng)濟(jì)、便捷的方式（如互聯(lián)網(wǎng)）獲得信息。
第九十條 上市公司董事會(huì)秘書負(fù)責(zé)信息披露事項(xiàng)，包括建立信息披露制度、接待來(lái)訪、回答咨詢、聯(lián)系股東，向投資者提供公司公開披露的資料等。董事會(huì)及經(jīng)理人員應(yīng)對(duì)董事會(huì)秘書的工作予以積極支持。任何機(jī)構(gòu)及個(gè)人不得干預(yù)董事會(huì)秘書的工作。
第二節(jié) 公司治理信息的披露
第九十一條 上市公司應(yīng)按照法律、法規(guī)及其他有關(guān)規(guī)定，披露公司治理的有關(guān)信息，包括但不限于：（1）董事會(huì)、監(jiān)事會(huì)的人員及構(gòu)成；（2）董事會(huì)、監(jiān)事會(huì)的工作及評(píng)價(jià)；（3）獨(dú)立董事工作情況及評(píng)價(jià)，包括獨(dú)立董事出席董事會(huì)的情況、發(fā)表獨(dú)立意見的情況及對(duì)關(guān)聯(lián)交易、董事及高級(jí)管理人員的任免等事項(xiàng)的意見；（4）各專門委員會(huì)的組成及工作情況；（5）公司治理的實(shí)際狀況，及與本準(zhǔn)則存在的差異及其原因；（6）改進(jìn)公司治理的具體計(jì)劃和措施。
第三節(jié) 股東權(quán)益的披露
第九十二條 上市公司應(yīng)按照有關(guān)規(guī)定，及時(shí)披露持有公司股份比例較大的股東以及一致行動(dòng)時(shí)可以實(shí)際控制公司的股東或?qū)嶋H控制人的詳細(xì)資料。
第九十三條 上市公司應(yīng)及時(shí)了解并披露公司股份變動(dòng)的情況以及其它可能引起股份變動(dòng)的重要事項(xiàng)。
第九十四條 當(dāng)上市公司控股股東增持、減持或質(zhì)押公司股份，或上市公司控制權(quán)發(fā)生轉(zhuǎn)移時(shí)，上市公司及其控股股東應(yīng)及時(shí)、準(zhǔn)確地向全體股東披露有關(guān)信息。
第八章 附則
第九十五條 本準(zhǔn)則自發(fā)布之日起施行。
Code of Corporate Governance for Listed Companies in China
Issued by:
China Securities Regulatory Commission
State Economic and Trade Commission
January 7, 2001
(Zhengjianfa No.1 of 2002)
Code of Corporate Governance for Listed Companies
Preface
In accordance with the basic principles of the Company Law, the
Securities Law and other relevant laws and regulations, as well as the
commonly accepted standards in international corporate governance, the
Code of Corporate Governance for Listed Companies (hereinafter referred to
as "the Code") is formulated to promote the establishment and improvement
of modern enterprise system by listed companies, to standardize the
operation of listed companies and to bring forward the healthy development
of the securities market of our country.
The Code sets forth, among other things, the basic principles for
corporate governance of listed companies in our country, the means for the
protection of investors'' interests and rights, the basic behavior rules
and moral standards for directors, supervisors, managers and other senior
management members of listed companies.
The Code is applicable to all listed companies within the boundary of
the People''s Republic of China. Listed companies shall act in the spirit
of the Code in their efforts to improve corporate governance. Requirements
of the Code shall be embodied when listed companies formulate or amend
their articles of association or rules of governance. The Code is the
major measuring standard for evaluating whether a listed company has a
good corporate governance structure, and if major problems exist with the
corporate governance structure of a listed company, the securities
supervision and regulation authorities may instruct the company to make
corrections in accordance with the Code.
Chapter 1. Shareholders and Shareholders'' Meetings
(1) Rights of Shareholders
1. As the owner of a company, the shareholders shall enjoy the legal
rights stipulated by laws, administrative regulations and the company''s
articles of association. A listed company shall establish a corporate
governance structure sufficient for ensuring the full exercise of
shareholders'' rights.
2. The corporate governance structure of a company shall ensure fair
treatment toward all shareholders, especially minority shareholders. All
shareholders are to enjoy equal rights and to bear the corresponding
duties based on the shares they hold.
3. Shareholders shall have the right to know about and the right to
participate in major matters of the company set forth in the laws,
administrative regulations and articles of association. A listed company
shall establish efficient channels of communication with its shareholders.
4. Shareholders shall have the right to protect their interests and
rights through civil litigation or other legal means in accordance with
laws and administrative regulations. In the event the resolutions of
shareholders'' meeting
s or the resolutions of the board of directors are in breach of laws and
administrative regulations or infringe on shareholders'' legal interests
and rights, the shareholders shall have the right to initiate litigation
to stop such breach or infringement. The directors, supervisors and
managers of the company shall bear the liability of compensation in cases
where they violate laws, administrative regulations or articles of
association and cause damages to the company during the performance of
their duties. Shareholders shall have the right to request the company to
sue for such compensation in accordance with law.
(2) Rules for Shareholders'' Meetings
5. A listed company shall set out convening and voting procedures for
shareholders'' meetings in its articles of association, including rules
governing such matters as notification, registration, review of proposals,
voting, counting of votes, announcement of voting results, formulation of
resolutions, recording of minutes and signatories, public announcement,
etc.
6. The board of directors shall earnestly study and arrange the agenda
for a shareholders'' meeting. During a shareholders'' meeting, each item
on the agenda shall be given a reasonable amount of time for discussion.
7. A listed company shall state in its articles of association the
principles for the shareholders'' meeting to grant authorization to the
board of directors. The content of such authorization shall be explicit
and concrete.
8. Besides ensuring that shareholders'' meetings proceed legally and
effectively, a listed company shall make every effort, including fully
utilizing modern information technology means, to increase the number of
shareholders attending the shareholders'' meetings. The time and location
of the shareholders'' meetings shall be set so as to allow the maximum
number of shareholders to participate.
9. The shareholders can either be present at the shareholders'' meetings
in person or they may appoint a proxy to vote on their behalf, and both
means of voting possess the same legal effect.
10. The board of directors, independent directors and qualified
shareholders of a listed company may solicit for the shareholders'' right
to vote in a shareholders'' meeting. No payments shall be made to the
shareholders for such solicitation, and adequate information shall be
provided to persons whose voting rights are being solicited.
11. Iinstitutional investors shall play a role in the appointment of
company directors, the compensation and supervision of management and
major decision-making processes.
(3) Related Party Transactions
12. Written agreements shall be entered into for related party
transactions among a listed company and its connected parties. Such
agreements shall observe principles of equality, voluntarity, and making
compensation for equal value. The contents of such agreements shall be
specific and concrete. Matters such as the signing, amendment, termination
and execution of such agreements shall be disclosed by the listed company
in accordance with relevant regulations.
13. Efficient measures shall be adopted by a listed company to prevent
its connected parties from interfering with the operation of the company
and damaging the company''s interests by monopolizing purchase or sales
channels. Related party transactions shall observe commercial principles.
In principle, the prices for related party transactions shall not deviate
from an independent third party''s market price or charging standard. The
company shall fully disclose the basis for pricing for related party
transactions.
14. The assets of a listed company belong to the company. The company
shall adopt efficient measures to prevent its shareholders and their
affiliates from misappropriating or transferring the capital, assets or
other resources of the company through various means. A listed company
shall not
provide financial guarantees for its shareholders or their affiliates.
Chapter 2. Listed Company and Its Controlling Shareholders
(1) Behavior Rules for Controlling Shareholders
15. During the restructuring and reorganization of a company that plans
to list, the controlling shareholders shall observe the principle of
"first restructuring, then listing", and shall emphasize the establishment
of a reasonably balanced shareholding structure.
16. During the restructuring and reorganization of a company that plans
to list, the controlling shareholders shall sever the company''s social
functions and strip out non-operational assets. Non-operational
institutions, welfare institutions and their facilities shall not be
included in the listed company.
17. Controlling shareholders'' remaining enterprises or institutions
that provide services for the major business of the listed company may be
restructured into specialized companies in accordance with the principles
of specialization and market practice, and may enter into relevant
agreements with the listed company in accordance with commercial
principles. Remaining enterprises engaged in other businesses shall
increase their capability of independent development. Remaining
enterprises not capable to continue operation shall exit the market,
through such channels as bankruptcy, in accordance with relevant laws and
regulations. Enterprises meeting certain requirements during restructuring
may sever all their social functions and disperse surplus employees at one
time and keep no remaining enterprises.
18. The controlling shareholders shall support the listed company to
further reform labor, personnel and distribution systems, to transform
operational and managerial mechanisms, and to establish such systems as:
management selection through bidding and competition, with the chance for
both promotion and demotion; employment of employees on the basis of
competitive selection, with the chance for both employment and termination
of employment; income distribution scheme that provides sufficient
incentive, with the chance to both increase and decrease the remuneration;
etc.
19. The controlling shareholders owe a duty of good faith toward the
listed company and other shareholders. The controlling shareholders of a
listed company shall strictly comply with laws and regulations while
exercising their rights as investors, and shall be prevented from damaging
the listed company''s or other shareholders'' legal rights and interests,
through means such as assets restructuring, or from taking advantage of
their privileged position to gain additional benefit.
20. The controlling shareholders shall nominate the candidates for
directors and supervisors in strict compliance with the terms and
procedures provided for by laws, regulations and the company''s articles
of association. The nominated candidates shall possess certain relevant
professional knowledge and the capability to make decisions or supervise.
The resolutions made by the shareholders'' meetings electing personnel or
the board of directors'' resolutions appointing personnel shall not be
subjected to approval procedures by the controlling shareholders. The
controlling shareholders are forbidden to appoint senior management
personnel by circumventing the shareholders'' meetings or the board of
directors.
21. The important decisions of a listed company shall be made through a
shareholders'' meeting or board of directors'' meeting in accordance with
law. The controlling shareholders shall not directly or indirectly
interfere with the company''s decisions or business activities conducted
in accordance with laws; nor shall they impair the listed company''s or
other shareholders'' rights and interests.
(2) Independence of Listed Company
22. A listed company shall be separated from its controlling
shareholders in such aspects as personnel, ass
ets and financial affairs, shall be independent in institution and
business, shall practice independent business accounting, and shall
independently bear risks and obligations.
23. The personnel of a listed company shall be independent from the
controlling shareholders. The management, financial officers, sales
officers and secretary of the board of directors of the listed company
shall not take posts other than as a director in a controlling
shareholder''s entities. In the case where a member of a controlling
shareholder''s senior management concurrently holds the position of
director of the listed company, such member shall ensure adequate time and
energy to perform the work for the listed company.
24. The assets invested by a controlling shareholder in a listed company
shall be independent, complete and with clear indication of ownership.
Where controlling shareholders invest non-cash assets into a listed
company, ownership transfer procedures shall be completed and explicit
boundaries for such assets shall be clarified. The listed company shall
independently register such assets, independently set up account for such
assets, and independently carry out business accounting and management for
such assets. The controlling shareholders shall not misappropriate or
control such assets or interfere with the listed company''s management of
such assets.
25. A listed company shall establish sound financial and accounting
management systems in accordance with laws and regulations and shall
conduct independent business accounting. Controlling shareholders shall
respect the financial independence of the company and shall not interfere
with the financial and accounting activities of the company.
26. The board of directors, the supervisory committee and other internal
offices of a listed company shall operate in an independent manner. There
shall be no subordination relationship between, on the one hand, a listed
company or its internal offices and, on the other hand, the company''s
controlling shareholders or their internal offices, and the latter shall
not give plans or instructions concerning the listed company''s business
operation to the former, nor shall the latter interfere with the
independent operation of the former in any other manner.
27. A listed company''s business shall be completely independent from
that of its controlling shareholders. Controlling shareholders and their
subsidiaries shall not engage in the same or similar business as that of
the listed company. Controlling shareholders shall adopt efficient
measures to avoid competition with the listed company.
Chapter 3. Directors and Board of Directors
(1) Election Procedures for Directors
28. A company shall establish a standardized and transparent procedure
for director election in its articles of association, so as to ensure the
openness, fairness, impartialness and independence of the election.
29. Detailed information regarding the candidates for directorship shall
be disclosed prior to the convening of the shareholders'' meeting to
ensure adequate understanding of the candidates by the shareholders at the
time of voting.
30. Candidates for directorship shall give written undertakings to
accept their nomination, to warrant the truthfulness and completeness of
the candidate''s information that has been publicly disclosed and to
promise to earnestly perform their duties once elected.
31. The election of directors shall fully reflect the opinions of
minority shareholders. A cumulative voting system shall be earnestly
advanced in shareholders'' meetings for the election of directors. Listed
companies that are more than 30% owned by controlling shareholders shall
adopt a cumulative voting system, and the companies that do adopt such a
system shall stipulate the implementing rules for such cumulative voting
system in their articles of association.
32. A
ppointment agreements shall be entered into by a listed company and its
directors to clarify such matters as the rights and obligations between
the company and the director, the term of the directorship, the
director''s liabilities in case of breach of laws, regulations or articles
of association, and the compensation from the company in case of early
termination of the appointment agreement for cause by the company.
(2) The Duties and Responsibilities of Directors
33. Directors shall faithfully, honestly and diligently perform their
duties for the best interests of the company and all the shareholders.
34. Directors shall ensure adequate time and energy for the performance
of their duties.
35. Directors shall attend the board of directors meetings in a diligent
and responsible manner, and shall express their clear opinion on the
topics discussed. When unable to attend a board of directors meeting, a
director may authorize another director in writing to vote on his behalf
and the director who makes such authorization shall be responsible for the
vote.
36. The board of directors shall abide by relevant laws, regulations,
rules and the company''s articles of association, and shall strictly
fulfill the undertakings they made publicly.
37. Directors shall earnestly attend relevant trainings to learn about
the rights, obligations and duties of a director, to familiarize
themselves with relevant laws and regulations and to master relevant
knowledge necessary for acting as directors.
38. In cases where the resolutions of board of directors violate laws or
regulations or a listed company''s articles of association and cause
losses to the listed company, directors responsible for making such
resolutions shall be liable for compensation, except those proved to have
objected and the objections of whom have been recorded in the minutes.
39. After approval by the shareholders'' meeting, a listed company may
purchase liability insurance for directors. Such insurance shall not cover
the liabilities arising in connection with directors'' violation of laws,
regulations or the company''s articles of association.
(3) Duties and Composition of the Board of Directors
40. The number of directors and the structure of the board of directors
shall be in compliance with laws and regulations and shall ensure the
effective discussion and efficient, timely and prudent decision-making
process of the board of directors.
41. The board of directors shall possess proper professional background.
The directors shall possess adequate knowledge, skill and quality to
perform their duties.
42. The board of directors shall be made accountable to shareholders. A
listed company''s corporate governance framework shall ensure that the
board of directors can exercise its power in accordance with laws,
administrative regulations and the company''s articles of association.
43. The board of directors shall earnestly perform its duties as
stipulated by laws, regulations and the company''s articles of
association, shall ensure that the company complies with laws, regulations
and its articles of association, shall treat all the shareholders equally
and shall be concerned with the interests of stakeholders.
(4) Rules and Procedure of the Board of Directors
44. A listed company shall formulate rules of procedure for its board of
directors in its articles of association to ensure the board of
directors'' efficient function and rational decisions.
45. The board of directors shall meet periodically and shall convene
interim meetings in a timely manner when necessary. Each board of
directors'' meeting shall have a pre-decided agenda.
46. The meetings of the board of directors of a listed company shall be
conducted in strict compliance with prescribed procedures. The board of
directors shall send notice to all directo
rs in advance, at the stipulated time, and shall provide sufficient
materials, including relevant background materials for the items on the
agenda and other information and data that may assist the directors in
their understanding of the company''s business development. When two or
more independent directors deem the materials inadequate or unclear, they
may jointly submit a written request to postpone the meeting or to
postpone the discussion of the related matter, which shall be granted by
the board of directors.
47. The minutes of the board of directors'' meetings shall be complete
and accurate. The secretary of the board of directors shall carefully
organize the minutes and the records of discussed matters. Directors that
have attended the meetings and the person who drafted the minutes shall
sign the minutes. The minutes of the board of directors'' meetings shall
be properly maintained and stored as important records of the company, and
may be used as an important basis for clarifying responsibilities of
individual directors in the future.
48. In the case of authorization to the chairman of the board of
directors to exercise part of the board of directors'' power of office
when the board of directors is not in session, clear rules and principles
for such authorization shall be stated in the articles of association of
the listed company. The content of such authorization shall be clear and
specific. All matters related to material interests of the company shall
be submitted to the board of directors for collective decision.
(5) Independent Directors
49. A listed company shall introduce independent directors to its board
of directors in accordance with relevant regulations. Independent
directors shall be independent from the listed company that employs them
and the company''s major shareholders. An independent director may not
hold any other position apart from independent director in the listed
company.
50. The independent directors shall bear the duties of good faith and
due diligence toward the listed company and all the shareholders. They
shall earnestly perform their duties in accordance with laws, regulations
and the company''s articles of association, shall protect the overall
interests of the company, and shall be especially concerned with
protecting the interests of minority shareholders from being infringed.
Independent directors shall carry out their duties independently and shall
not subject themselves to the influence of the company''s major
shareholders, actual controllers, or other entities or persons who are
interested parties of the listed company.
51. Relevant laws and regulations shall be complied with for matters
such as the qualifications, procedure of election and replacement, and
duties of independent directors.
(6) Specialized Committees of the Board of Directors
52. The board of directors of a listed company may establish a corporate
strategy committee, an audit committee, a nomination committee, a
remuneration and appraisal committee and other special committees in
accordance with the resolutions of the shareholders'' meetings. All
committees shall be composed solely of directors. The audit committee, the
nomination committee and the remuneration and appraisal committee shall be
chaired by an independent director, and independent directors shall
constitute the majority of the committees. At least one independent
director from the audit committee shall be an accounting professional.
53. The main duties of the corporate strategy committee shall be to
conduct research and make recommendations on the long-term strategic
development plans and major investment decisions of the company.
54. The main duties of the audit committee are (1) to recommend the
engagement or replacement of the company''s external auditing
institutions; (2) to review the internal audit system and its execution;
(3) to oversee the in
teraction between the company''s internal and external auditing
institutions; (4) to inspect the company''s financial information and its
disclosure; and (5) to monitor the company''s internal control system.
55. The main duties of the nomination committee are (1) to formulate
standards and procedures for the election of directors and make
recommendations; (2) to extensively seek qualified candidates for
directorship and management; and (3) to review the candidates for
directorship and management and make recommendations.
56. The main duties of the remuneration and appraisal committee are (1)
to study the appraisal standard for directors and management personnel, to
conduct appraisal and to make recommendations; and (2) to study and review
the remuneration policies and schemes for directors and senior management
personnel.
57. Each specialized committee may engage intermediary institutions to
provide professional opinions, the relevant expenses to be borne by the
company.
58. Each specialized committee shall be accountable to the board of
directors. All proposals by specialized committees shall be submitted to
the board of directors for review and approval.
Chapter 4. The Supervisors and the Supervisory Board
(1) Duties and Responsibilities of the Supervisory Board
59. The supervisory board of a listed company shall be accountable to
all shareholders. The supervisory board shall supervise the corporate
finance, the legitimacy of d,irectors, managers and other senior management
personnel''s performance of duties, and shall protect the company''s and
the shareholders'' legal rights and interests.
60. Supervisors shall have the right to learn about the operating status
of the listed company and shall have the corresponding obligation of
confidentiality. The supervisory board may independently hire intermediary
institutions to provide professional opinions.
61. A listed company shall adopt measures to ensure supervisors'' right
to learn about company''s matters and shall provide necessary assistance
to supervisors for their normal performance of duties. No one shall
interfere with or obstruct supervisors'' work. A supervisor''s reasonable
expenses necessary to perform their duties shall be borne by the listed
company.
62. The record of the supervisory committee''s supervision as well as
the results of financial or other specific investigations shall be used as
an important basis for performance assessment of directors, managers and
other senior management personnel.
63. The supervisory board may report directly to securities regulatory
authorities and other related authorities as well as reporting to the
board of directors and the shareholders'' meetings when the supervisory
board learns of any violation of laws, regulations or the company''s
articles of association by directors, managers or other senior management
personnel.
(2) The Composition and Steering of the Supervisory Board
64. Supervisors shall have professional knowledge or work experience in
such areas as law and accounting. The members and the structure of the
supervisory board shall ensure its capability to independently and
efficiently conduct its supervision of directors, managers and other
senior management personnel and to supervise and examine the company''s
financial matters.
65. A listed company shall formulate in its articles of association
standardized rules and procedures governing the steering of the
supervisory board. The supervisory board''s meetings shall be convened in
strict compliance with the rules and procedures.
66. The supervisory board shall meet periodically and shall convene
interim meetings in a timely manner when necessary. If for any reason a
supervisory board meeting cannot be convened as scheduled, an explanation
shall be publicly announced.
67. The supervisory board may ask directo
rs, managers and other senior management personnel, internal auditing
personnel and external auditing personnel to attend the meetings of
supervisory board and to answer the questions that the supervisory board
is concerned with.
68. Minutes shall be drafted for the meetings of the supervisory board,
which shall be signed by the supervisors that attended the meetings and
the person who drafted the minutes. The supervisors shall have the right
to request to record in the minutes explanatory notes to their statements
in the meetings. Minutes of the meetings of the supervisory board shall be
properly maintained and stored as important records of the company.
Chapter 5. Performance Assessments and Incentive and Disciplinary
Systems
(1) Performance Assessment for Directors, Supervisors and Management
Personnel
69. A listed company shall establish fair and transparent standards and
procedures for the assessment of the performance of directors, supervisors
and management personnel.
70. The evaluation of the directors and management personnel shall be
conducted by the board of directors or by the remuneration and appraisal
committee of the board of directors. The evaluation of the performance of
independent directors and supervisors shall be conducted through a
combination of self-review and peer review.
71. The board of directors shall propose a scheme for the amount and
method of compensation for directors to the shareholders'' meeting for
approval. When the board of directors or the remuneration and appraisal
committee reviews the performance of or discusses the compensation for a
certain director, such director shall withdraw.
72. The board of directors and the supervisory board shall report to the
shareholder meetings the performance of the directors and the supervisors,
the results of the assessment of their work and their compensation, and
shall disclose such information.
(2) Selection of Management Personnel
73. The recruiting of management personnel of a listed company shall be
conducted in strict observation with relevant laws and regulations and the
company''s articles of association. No institution or individual shall
interfere with a listed company''s normal recruiting procedure for
management personnel.
74. The recruiting of management personnel of a listed company shall, to
the extent possible, be carried out in a fair and transparent manner,
through domestic and international markets for professional management,
making full use of intermediary agencies.
75. Employment agreements shall be entered into by a listed company and
its management personnel to clarify each party''s rights and obligations.
76. The appointment and removal of managers shall be in compliance with
legal procedure and shall be publicly announced.
(3) Incentive and Disciplinary Systems for Management
77. To attract qualified personnel and to maintain the stability of
management, a listed company shall establish rewarding systems that link
the compensation for management personnel to the company''s performance
and to the individual''s work performance.
78. The performance assessment for management personnel shall become a
basis for determining the compensation and other rewarding arrangements
for the person reviewed.
79. The results of the performance assessment shall be approved by the
board of directors, explained at the shareholders'' meetings and
disclosed.
80. A listed company shall specify management personnel''s duties and
responsibilities in its articles of association. If management personnel
violate laws, regulations or the company''s articles of association and
cause damages to the company, the board of directors of the company shall
actively investigate and pursue such personnel''s legal liabilities.
Chapter 6. Stakeholders
81. A listed company shall res
pect the legal rights of banks and other creditors, employees, consumers,
suppliers, the community and other stakeholders.
82. A listed company shall actively cooperate with its stakeholders and
jointly advance the company''s sustained and healthy development.
83. A company shall provide the necessary means to ensure the legal
rights of stakeholders. Stakeholders shall have opportunities and channels
for redress for infringement of rights.
84. A company shall provide necessary information to banks and other
creditors to enable them to make judgments and decisions about the
company''s operating and financial situation.
85. A company shall encourage employees'' feedback regarding the
company''s operating and financial situations and important decisions
affecting employee''s benefits through direct communications with the
board of directors, the supervisory board and the management personnel.
86. While maintaining the listed company''s development and maximizing
the benefits of shareholders, the company shall be concerned with the
welfare, environmental protection and public interests of the community in
which it resides, and shall pay attention to the company''s social
responsibilities.
Chapter 7. Information Disclosure and Transparency
(1) Listed Companies'' Ongoing Information Disclosure
87. Information disclosure is an ongoing responsibility of listed
companies. A listed company shall truthfully, accurately, completely and
timely disclose information as required by laws, regulations and the
company''s articles of association.
88. In addition to disclosing mandatory information, a company shall
also voluntarily and timely disclose all other information that may have a
material effect on the decisions of shareholders and stakeholders, and
shall ensure equal access to information for all shareholders.
89. Disclosed information by a listed company shall be easily
comprehensible. Companies shall ensure economical, convenient and speedy
access to information through various means (such as the Internet).
90. The secretary of the board of directors shall be in charge of
information disclosure, including formulating rules for information
disclosure, receiving visits, providing consultation, contacting
shareholders and providing publicly disclosed information about the
company to investors. The board of directors and the management shall
actively support the secretary''s work. No institutions or individuals
shall interfere with the secretary''s work.
(2) Disclosure of Information Regarding Corporate Governance
91. A listed company shall disclose information regarding its corporate
governance in accordance with laws, regulations and other relevant rules,
including but not limited to: (1) the members and structure of the board
of directors and the supervisory board; (2) the performance and evaluation
of the board of directors and the supervisory board; (3) the performance
and evaluation of the independent directors, including their attendance at
board of directors'' meetings, their issuance of independent opinions and
their opinions regarding related party transactions and appointment and
removal of directors and senior management personnel; (4) the composition
and work of the specialized committees of the board of directors; (5) the
actual state of corporate governance of the company, the gap between the
company''s corporate governance and the Code, and the reasons for the gap;
and (6) specific plans and measures to improve corporate governance.
(3) Disclosure of Controlling Shareholder''s Interests
92. A company shall timely disclose detailed information about each
shareholder who owns a comparatively large percentage of shares of the
company, the shareholders who actually control the company when acting in
concert and the company''s actual controllers in accordance with relevant
regulati
ons.
93. A listed company shall learn about and disclose in a timely manner,
changes in the shareholding of the company and other important matters
that may cause changes in the shareholding of the company.
94. When controlling shareholders increase or decrease their
shareholding or pledge the company''s shares, or when the actual control
of the company transfers, the company and its controlling shareholders
shall timely and accurately disclose relevant information to all
shareholders.
Chapter 8. Supplementary Article
95. This Code shall come into effect on the date of issuance
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