The Financial Regulatory Administration issued the "Notice on Issues Related to the Connection Between Corporate Governance Regulatory Provisions and Company Law." After Financial Institutions abolish the supervisory board, former external supervisors who meet the qualifications for independent director positions may be transferred to independent directors according to the selection process for independent directors. However, the cumulative term of service for former external supervisors and the transferred independent directors shall not exceed six years in principle.
金融监管总局：金融机构取消监事会后 原外部监事符合独立董事任职资格要求的可转任独立董事
The Financial Regulatory Administration stated that after Financial Institutions abolish the supervisory board, former external supervisors who meet the qualifications for independent director positions may be transferred to independent directors.
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