CSRC: Strict regulatory measures or penalties will be taken against listed companies that violate laws and regulations but whose board secretaries fail to diligently fulfill their duties.

On December 31st, the China Securities Regulatory Commission publicly solicited opinions on the "Regulations on the Supervision of Board Secretaries of Listed Companies (Draft for Soliciting Opinions)". The "Regulations" consist of thirty-eight articles, which specify the specific responsibilities of the board secretary in areas such as information disclosure, corporate governance, and internal and external communication. It aims to enhance the professionalism and compliance requirements of board secretaries, and prohibits concurrent positions that may lead to conflicts of interest. It also requires the nomination committee to review the qualifications of board secretaries. Listed companies are required to regularly conduct performance evaluations and internal accountabilities. Strict regulatory measures or penalties will be implemented for listed companies found to have violated laws and regulations but with board secretaries not fulfilling their duties diligently. The original text can be found on the official website of the China Securities Regulatory Commission.