On July 2, CIRC issued the Notification of Issues on Launching Employee Stock Ownership Plan in Insurance Institution (hereinafter “the Notification”) to provide an enforcement regulation for building a benefit-sharing system between stockholders, insurance institutions and employees. In accordance with provisions in the Notification, insurance institutions launching ESOP shall have sound business foundation, and steady management structure, salary system and financial condition. The said institutions shall have been in continuous operation for no less than 3 years, and remain profitable in the former year of the launch of the Plan. In the meantime, the Notification provides that such innovative institutions as insurance asset management companies and specified internet insurance companies shall be exempted from the requirement of continuous operation time. By principle, targeted participants of ESOP shall be regular employees who have been in the institution for over 2 years, including management, business mainstays and professional technical personnel. With regard to financial source, the needed capital shall be from salary and other legal income of personnel; In respect of shareholding ratio, ESOP shall hold a quantity of valid stocks and funds of no more than 10% of total share capital of company, and shall not be the biggest shareholder of the company. Individual employee shall hold less than 1% of stocks; The total amount of valid stocks and funds held by ESOP of innovative institutions, e.g. insurance asset management company and specified International insurance company, etc., shall not exceed 25% of total share capital of the company; Individual employee shall hold less than 5% of stocks.
解析:黨的十八屆三中全會提出“允許混合所有制經(jīng)濟實行員工持股,形成資本所有者和勞動者利益共同體”。員工持股可以把企業(yè)利益和員工利益進行有效的捆綁,建立保險機構(gòu)和員工的利益共享機制,提高員工的勞動積極性,提升公司的凝聚力和行業(yè)競爭力。
Interpretation: The Third Plenary Session of the 18th CPC Central Committee proposed that “employee stock ownership in mixed sector of the economy shall be permitted to form an interest community of capital owners and laborers”. Employee stock ownership will result in effective binding of corporate interest and employee interest, build an interest-sharing system between insurance institutions and their employees, improve working enthusiasm of employees, and enhance cohesion and industrial competitiveness of company.
員工持股也是建立現(xiàn)代保險企業(yè)制度的需要。相對于事后的檢查,員工持股作為事中的激勵與約束機制,可以影響與監(jiān)督核心管理者的行為。同時,它在一定程度上緩解了“一股獨大”的問題,可以有效優(yōu)化公司治理結(jié)構(gòu)。
In fact, employee stock ownership is necessary for the establishment of modern insurance enterprise system. As an inward incentive and restrictive mechanism, employee stock ownership will influence and supervise the behavior of core management compared to inspections afterwards. In the meantime, it resolves the issue of “one share being overwhelmingly big” to some extent, and effectively optimizes the management structure of company.
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