Governance based on the split share structure reform of listed companies

The essence of corporate governance is about power arrangements and the distribution of interests , the core is to guarantee to shareholders as the main stakeholder in the framework of the laws and regulations in practice . Split share is left deficiencies in the system of gradual reform of China's securities market , the non-tradable shareholders by virtue of its holding advantage against wanton plunder circulation shareholders' equity , internal control is more common , the Board can not effectively perform their duties , the Board of Supervisors non-existent , there is no senior the establishment of a scientific and effective evaluation mechanisms , incentive and restraint mechanisms , ownership structure unreasonable property rights trading of listed companies is difficult , difficult for strategic investors to participate in corporate governance , and so on a series of questions , these are the great challenge of governance of listed companies in China . Ownership structure and governance structure of this article from the listed companies in China unreasonable way , clarify the split share structure reform because of the ownership structure and governance structure optimization , is conducive to the reform of property rights of listed companies , in favor of increasing the value of state-owned assets , the state-owned economy strategic restructuring ; conducive institutional investors to participate in corporate governance, investment diversification , nearly strengthen the supervision of listed companies ; is conducive to strengthening the role of the independent director system and the Supervisory Board ; conducive to the realization of management incentive system to promote their improve operational decision - making level , to adapt to market competition ; conducive to the realization of the same rights and benefits , and to protect the legitimate rights and interests of the minority shareholders . China's listed companies should be by means of a split share structure reform , and strive to improve their governance , improve business performance , to regain the lead in the competitive environment of global economic integration .