The People's Bank of China and the State Administration for Market Regulation jointly issued the "Measures for the Management of Beneficial Owner Information", which will be effective from November 1, 2024. The "Administrative Measures" establish and improve my country's beneficial owner information filing system and are an important measure for my country to optimize the business environment. Promoting the construction of a beneficial owner information filing system can more clearly reflect the equity structure and ultimate control and benefit status of companies and other entities, improve market transparency, enhance information symmetry and mutual trust between business entities, and improve transaction security and transaction efficiency. Further optimize our country’s business environment. At the same time, the beneficial owner information filing system helps prevent irregularities such as shell companies, false capital injections, and nested shareholdings from the source, helps combat illegal and criminal activities such as telecommunications network fraud, and helps prevent and curb corruption. The "Administrative Measures" follow the principles of the rule of law, simplification and convenience, fully consider my country's national conditions, stipulate which entities should register beneficial owner information, set up commitment exemption clauses, clarify the identification standards of beneficial owners, and limit the conditions for query and use of registered information. etc., thereby better standardizing the filing of beneficial owner-related information by companies and other entities.