TSINGHUA CHINA LAW REVIEW
Analysis on New Regulations and Future Road of Independent Director in China
Created on:2024-02-07 11:07 PV:357
By Ma Kehui |China Law Update |16 Tsinghua China L. Rev. 125 (2023)   |   Download Full Article PDF

Abstract

Based on the history of independent directors system in China, this article mainly reviews the major changes made by the China Securities Regulatory Commission (CSRC) in Measures for the Administration of Independent Directors of Listed Companies issued on August 1, 2023 compared with the Rules for Independent Directors of Listed Companies issued previously, and analyzes the progress and shortcomings of this revision from the perspective of comparative law compared with the UK. Furthermore, in view of the historical experience of the UK, this article puts forward the suggestion on clarifying the role of independent directors and focusing more on capacity as well as management function rather than the independence character and supervisory duty.

Key Words: Independent Directors, the Latest Rule, Modification