In China, the party will participate in the reform of the management of banks and insurance

In China, the Banking and Insurance Regulatory Commission has published a plan to reform corporate governance in the banking and insurance sectors for the period from 2020 to 2022. This was reported by the press release of the Commission, published on September 7. The text of the document identifies ten areas of reform, among which there is an increase in the interaction of the party leadership and corporate managers. In addition, it is planned to implement changes in the system of assessing corporate governance, in regulating the behavior of shareholders, to increase the effectiveness of corporate governance bodies, including boards of directors. At the same time, it was noted that the Plan was developed on the basis of the best world practices and taking into account the assessment of the implementation of principles developed within the framework of the G20 into the industry.