The institutional framework takes shape, and the key few in financial institutions have a new benchmark for fulfilling their responsibilities.

From the implementation of the new Company Law to the completion of the revision of the Guidelines for Governance of Listed Companies, and recently, the joint issuance by four departments of the "Implementation Opinions on Improving the Governance of Financial Institutions," the institutional framework for the governance of financial institutions in our country is being accelerated to shape. The Opinions propose a goal that by 2029, a governance mechanism for financial institutions will be basically formed, characterized by clear boundaries of responsibilities and powers, compatible incentives and constraints, strict risk management, and standardized and efficient operations. The three core highlights of the Opinions are classified and tiered supervision, strengthening shareholder governance, and emphasizing the responsibilities of the "key minority."