Banks Cancel Supervisory Board, Governance Reform Faces New Challenges

The banking governance reform driven by the new company law is accelerating its implementation. Recently, listed banks such as QLB and INDUSTRIAL BANK have announced that they will no longer establish supervisory boards. Industry insiders believe that replacing the supervisory board with an audit committee can enhance corporate governance efficiency and reduce operational costs, but it is necessary to address the issues of independence and professionalism in supervision. In addition, how to translate principled regulations into feasible specific plans is also a challenge that banks need to face