【中英文对照版】中国证券监督管理委员会印发关于加强上市公司监管的意见(试行).docx

中国证券监督管理委员会印 发关于加强上市公司监管的 意见（试行）中国证监会各派出机构，各 交易所，各下属单位，各协 会，会内各司局：上市公司是国民经济的基本 盘，是经济高质量发展的重 要微观基础。2020年10月 国务院印发关于进一步提 高上市公司质量的意见（国发（2020） 14号）以 来，上市公司结构持续优 化，创新能力不断增强，回 报能力稳步提升，总体面貌 明显改善。但上市公司财务中国证券监督管理委员会印发关于加强上市公司监管的意见(试行)OpinionsoftheChinaSecuritiesRegulatoryCommissiononStrengtheningtheRegulationofListedCompanies(forTrialImplementation)制定机关：中国证券监督管理委员会公布日期：2024.03.15施行日期：2024.03.15效力位阶：部门规范性文件法规类别：证券交易所与业务管理IssuingAuthority：ChinaSecuritiesRegulatoryCommissionDateIssued：03-15-2024EffectiveDate：03-15-20241.evelofAuthority：DepartmentalRegulatoryDocumentsAreaofLaw：StockExchangesandBusinessManagementOpinionsoftheChinaSecuritiesRegulatoryCommissiononStrengtheningtheRegulationof1.istedCompanies(forTrialImplementation)AlllocalofficesoftheChinaSecuritiesRegulatoryCommission(uCSRCn),allexchanges,allsubordinateentities,allassociations,andalldepartmentsandbureausoftheCSRC:1.istedcompaniesarethefoundationofthenationaleconomyandanimportantmicrofoundationforhigh-qualityeconomicdevelopment.SincetheissuanceoftheOpinionsonFurtherImprovingtheQualityofListedCompanies(No.142020,StateCouncil)bytheStateCouncilinOctober2020,listedcompanieshavecontinuouslyoptimizedtheirstructures,continuouslyenhancedtheirinnovationcapabilities,steadilyenhancedtheirprofitability,andsignificantlyimprovedtheiroverallperformance.However,川egalactssuchasfinancialfraudcommittedbylistedcompaniesandmisappropriationofinterestsoflistedcompaniesbyprincipalshareholdersstilloccurfromtimetotime,and川egalreductionofshareholdingsseriouslyaffectstheconfidenceofinvestors,anddividendsarenotdistributedinastable,timely,andpredictablemanner.Listedcompaniesdonotpayenoughattentiontotheirinvestmentvalue,andthequalityoflistedcompaniesfailstosatisfytherequirementsforhigh-qualityeconomicandsocialdevelopmentandmeettheexpectationsofinvestors.TheseOpinionsaredevelopedforthepurposeoffurtherimprovingthequalityandenhancingtheinvestmentvalueoflistedcompanies.I. GeneralrequirementsGuidedbyXiJinpingThoughtonSocialismwithChineseCharacteristicsforaNewEra,theguidelinesofthe20thNationalCongressoftheCommunistPartyofChinaandtheCentralFinancialWorkConferenceshallbethoroughlyimplemented,thegoalofsignificantlyimprovingthequalityoflistedcompaniesshallbecloselycenteredon,strengtheningregulation,preventingrisks,andpromotinghigh-qualitydevelopmentshallbeadheredto,thehigh-qualitydevelopmentandincreaseintheinvestmentvalueoflistedcompaniesshallbepromotedthroughstricterregulation,andnewcontributionsshallbemadetoacceleratingtheconstructionofacapitalmarketwithChinesecharacteristicsandafinancialpower,andservinghigh-qualityeconomicandsocialdevelopment.造假、大股东违规侵占上市 公司利益等违法行为仍时有 发生，违规减持严重影响投 资者信心，分红的稳定性、 及时性和可预期性相对不 足，上市公司对自身投资价 值的重视程度不够，上市公 司质量与经济社会高质量发 展的要求和投资者的期待相 比仍有差距。为进一步提升 上市公司质量和投资价值， 制定本意见。一、总体要求以习近平新时代中国特色社 会主义思想为指导，深入贯 彻党的二十大和中央金融工 作会议精神，紧紧围绕大力 提高上市公司质量目标，坚 持强监管、防风险、促高质 量发展，以更严的监管推动 上市公司高质量发展和投资 价值提升，为加快建设中国 特色资本市场和金融强国， 服务经济社会高质量发展作 出新的贡献。坚持将投资者利益放在 更加突出位置。及时回应投 资者关切，增强投资者获得 感，并贯穿于监管规则制Adheringtogivinggreaterprioritytoinvestors,interests.Investors'concernsshallbeaddressedinatimelymannerandinvestors'senseofgainshallbeenhancedthroughouttheentireprocessofdevelopingregulatoryrules,takingregulatoryactions,andcultivatingthemarketculture.Adheringtobeingbasedonnationalandmarketconditions.Thegeneralrulesofthecapitalmarketshallbefollowed,effortsshallbegroundedonChina,sactualconditions,thegovernancecharacteristicsoflistedcompaniesshallbeaccuratelygrasped,listedcompaniesandtheircontrollingshareholders,actualcontrollers,directors,andofficersshallbeurgedtoeffectivelyfulfilltheirresponsibilities,andtheregulatorysystemforlistedcompaniesshallbeimproved.Adheringtocomprehensiveandstrictregulation.Theprimaryregulatoryresponsibilitiesanddutiesshallbeperformed,strictregulationshallbeensured,theregulatoryeffectivenessshallbeeffectivelyenhanced,financialfraud,misappropriationoftheinterestsoflistedComPanieSJIlegalreductionofshareholdings,"falsemarketvaluemanagement/1andother川egalandcriminalactivitiesshallbeseverelycrackeddownon,andrisksshallbeidentified,warnedof,exposed,anddisposedofasearlyaspossible.定、监管行动执行和市场文 化培育的全过程。一一坚持立足国情市情。遵 循资本市场一般规律，立足 我国实际，准确把握上市公 司治理特征，压实上市公司 和控股股东、实际控制人、 董事、高管责任，健全上市 公司监管制度体系。一一坚持全面从严监管。履 行监管主责主业，确保“长 牙带刺”、有棱有角，切实 提高监管有效性，严厉打击 财务造假、侵占上市公司利 益、违规减持、“伪市值管 理”等违法犯罪，对风险早 识别、早预警、早暴露、早 处置。-坚持系统观念。注重综 合施策、标本兼治，坚持信 息披露、公司治理“双轮驱 动”。尊重公司自治原则和 强化监管约束并重，兼顾大 股东权利和中小投资者利益 保护，坚持健全规则、强化 监管、促进发展多措并举， 努力培育市场良好生态。Adheringtosystemsthinking.Emphasisshallbeplacedonthecomprehensiveimplementationofpolicies,equalattentionshallbepaidtotemporaryandpermanentsolutions,andthedrivingforcesofbothinformationdisclosureandcorporategovernanceshallbeadheredto.Equalimportanceshallbeattachedtorespectingtheprincipleofcorporateautonomyandstrengtheningregulatoryconstraints,theprotectionoftherightsofprincipalshareholdersandtheinterestsofsmall-andmedium-sizedinvestorsshallbeconsidered,andeffortsshallbemadetocultivateasoundmarketenvironmentbytakingvarious