Regulation of Related-Party Transactions and Reconstruction of Directors’, Supervisors’, and Senior Executives’ Liability under the Revised Company Law: A Corporate Governance Optimization Perspective
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Abstract
The revised Company Law indicates that China’s regulatory framework for related-party transactions has entered a stage of systematic restructuring. For technology-intensive enterprises, including firms engaged in communication equipment, antenna systems, and electromagnetic engineering, transparent governance of related-party transactions is also relevant to research compliance, capital allocation, and market credibility. Taking the revised Company Law as the institutional starting point, this study analyzes related-party transaction regulation and the reconstruction of directors’, supervisors’, and senior executives’ liability from a corporate-governance optimization perspective. Normative analysis, comparative legal research, and case-based empirical methods are used to examine affiliation identification, disclosure duties, approval procedures, and liability attribution mechanisms. The results show that the revised law improves affiliation i dentification st andards, st rengthens di sclosure ob ligations, and formalizes approval procedures. Relatedparty transaction disclosure compliance reached 86.9% in 2024, increasing by 15.5 percentage points compared with the 2020–2023 baseline. Judicial support for fiduciary duty violation claims reached 71.4%, while independent director and supervisory board mechanisms showed measurable governance effects. Nevertheless, coordination between administrative enforcement and criminal prosecution remains uneven, requiring further institutional refinement.
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