China News Service, March 29 (Xinhua) The State Council Information Office held a regular briefing on State Council policies on the 29th to interpret the "Decision of the State Council on Amending and Repealing Certain Administrative Regulations." Guo Qiwen, head of the Second Legislative Bureau of the Ministry of Justice, revealed at the meeting that the amendments to the "Interim Regulations on Corporate Information Disclosure" mainly include three aspects: establishing a corporate credit repair system, improving the corporate exit mechanism, and strengthening supervision, management and legal responsibilities.
At the meeting, a reporter asked: This time the "Decision" revised the "Interim Regulations on Enterprise Information Disclosure", revised and added provisions for corporate breach of trust and repair of breach of trust records, and detailed requirements for supervision. Can you give us a detailed introduction to the amendments to this regulation, as well as the background and main ideas?
Guo Qiwen said that credit is the cornerstone of the market economy. The more creditworthy business entities are, the safer the transactions will be, the lower the economic operating costs will be, and the more active the market will be. The corporate information disclosure system is an important system that promotes corporate integrity and self-discipline, improves government supervision efficiency, and ensures fair competition in the market. The Party Central Committee and the State Council attach great importance to the construction of the credit system and the maintenance of good market order. As an administrative regulation that regulates corporate information disclosure and strengthens corporate credit constraints, the regulations have achieved remarkable results since their implementation. At the government level, we should effectively transform regulatory concepts, innovate regulatory methods, and improve regulatory efficiency. At the market level, it effectively enhances corporate self-discipline awareness, promotes transparency of transaction information, and reduces institutional transaction costs. With the continuous development of my country's economy and society, there have been some problems in the regulations that are not suitable for the development and changes of the situation, and it is difficult to meet the actual needs of the current credit system construction and credit supervision. Therefore, it is necessary to amend the regulations.
Guo Qiwen pointed out that the overall idea of revising the regulations this time is to strengthen the construction of the credit system of business entities and further play the fundamental role of credit in innovating regulatory mechanisms and improving regulatory capabilities. Stay problem-oriented. Respond to outstanding issues reflected in various aspects of corporate information disclosure and credit supervision. Persistence in promoting development. From the perspective of stimulating corporate vitality and ensuring transaction security, we will further standardize corporate information disclosure behavior and create an honest and trustworthy market environment.
The modifications mainly include three aspects:
The first is to establish a corporate credit repair system.
Support enterprises to rebuild their credit conveniently and efficiently, and promote the sharing and mutual recognition of repair results. The regulations encourage enterprises to proactively correct illegal and untrustworthy behaviors, eliminate negative effects, and apply for cancellation of untrustworthy records in accordance with the law. When government departments lift relevant management measures and revoke records of dishonesty in accordance with the law, they should share the above information with relevant departments in a timely manner.
The second is to improve the enterprise exit mechanism.
In order to promote the orderly exit of existing "zombie companies" from the market, combined with the actual supervision and law enforcement, it is stipulated that companies that have failed to submit annual reports as required for two consecutive years have been included in the list of abnormal business operations and have not been corrected, and cannot be obtained through their registered residence or business premises. If contacted, the business license will be revoked by the market supervision and management department at or above the county level.
The third is to strengthen supervision, management and legal responsibility.
Give law enforcement officers administrative inspection means, and require market supervision departments to investigate and deal with illegal activities. They can take measures such as on-site inspections, access to information, understanding of situations, and account inquiries to strengthen supervision during and after the event, and at the same time strictly standardize the procedures for law enforcement officers to perform their duties. The penalties for illegal information disclosure will be increased, and corresponding legal responsibilities will be clarified for companies that conceal the true situation or commit fraud when disclosing information.