Question

我是一名在校本科生，现急需将下文翻译成英语，真的很急，请大家帮帮忙，谢谢了。

浅析上市公司关联交易的规范化
徐晓静

随着企业改革的不断深入及市场竞争的日益加剧，关联方和关联交易在上市公司成为普遍存在的现象，不公平关联交易问题也随之而来。对关联交易进行规范，有助于投资者了解上市公司真实的财务状况和经营成果，以防止上市公司利用关联方交易侵害广大投资者的利益。
为进一步规范关联方交易，便于股东及投资者准确地把握和分析关联交易对营业业绩的影响和潜在的风险，增强交易的可比性，笔者认为，实现关联交易公平公正应从以下五方面进行规范。
一、完善公司法人治理结构。治理结构框架应具有保护股东权利的责任，应当确保所有股东，包括小股东和外国股东受到平等待遇。如果他们的权利受到损害，他们应有机会得到有效补偿；治理结构框架应当保证及时准确地披露与公司有关的任何重大问题，包括财务状况、经营状况、所有权状况和公司治理状况的信息；治理结构框架应确保董事会对公司的战略性指导和对管理人员的有效监督，并确保董事会对公司和股东负责。同时，应重点关注于公司法人治理结构监督机制的完善。
二、优化对关联交易的信息披露制度。将减少不公平的关联方交易作为制定各项具体准则的出发点和落脚点，要从制度层面避免不公平的关联方交易发生。同时应保持制度的系统性，从各环节、多方面切断利用关联方交易操纵利润的通道。其次，准则和制度的制定应是一个动态调整的过程，要根据上市公司关联交易中出现的新情况和新特点及时进行补充和完善。
三、规范关联交易定价行为。国家会计准则对关联交易的价格做出了规范，关联双方在购买和销售过程中，要严格按照不受控可比价格法、再销售价格法和成本加成法定价。
四、加大对关联交易的审计力度。充分利用上市公司年度报告审计中，会计师事务所对某些上市公司的关联方交易披露的重大关联交易出具的保留意见，帮助投资者正确地认识这些公司的真实业绩和潜在的关联交易的风险。市场中介的审计评估可以对上市公司的关联交易作出市场公平的评价，这种评价有利于公司独立非执行董事和股东大会以及投资者对公司的关联交易作出正确的判断。
五、增设监事会代表诉讼制度。根据现行《公司法》的规定,关联人侵害公司利益时,公司可以作为请求权主体向关联人行使救济请求权。实践证明,公司向关联人行使救济请求权的可能性很小。当关联人特别是母公司之类的关联人直接侵害公司的利益时,公司董事、经理为自身利益,不敢轻易行使救济权，而大部分不正当关联交易又是在公司董事、大股东、经理操纵下与关联人所为,损害结果正为他们所设计和期望,他们不愿让公司向关联人行使救济权在预料之中。但作为公司监督机构的监事会,此时应代表公司向关联人行使该权利。

Answer 1

Analysis of the listing Corporation connected transaction standardization Xu Xiaojing along with the deepening of enterprise reform and the increasing competition in the market, the related party and the related party transactions has become a widespread phenomenon in the listing Corporation, unfair affiliated transaction disputes. To regulate the related party transactions, will help to understand the listing Corporation's true financial position and operating results to investors, in order to prevent the listing Corporation use related party transactions infringe the interests of investors. In order to further standardize the related party transactions, to shareholders and investors to control and analyze the influence of affiliated transactions of business performance and potential risks, strengthen trade comparability, the author thinks, the association's Fair from the following five aspects of norms. One, improve corporate governance structure. Governance framework should have the responsibility of protecting the rights of shareholders, shall ensure that all shareholders, including small shareholders and foreign shareholders to receive equal treatment. If their rights are damaged, they should have the opportunity to obtain the effective compensation; governance framework should ensure that timely and accurate disclosure of any major issues relating to the company, including the financial situation, operating conditions, status of ownership and corporate governance information; governance framework shall ensure that the board of directors of the company and strategic guidance for managers the effective supervision, and to ensure that the board of directors of the company and shareholders. At the same time, should focus on the improvement of the corporate governance structure of supervision mechanism. Two, the optimization of related transaction information disclosure system. Will reduce the unfair related party transactions as the starting point and the foothold for establishing the specific criteria, in order to avoid the unfair related party transactions occurred from the system level. At the same time to keep the system of institutions, the use of related party transactions to manipulate profits from each link, multi channel cut. Secondly, rules and regulations should be a dynamic process of adjustment, to timely supplement and perfect according to the new situation and new characteristics in the listing Corporation connected transaction. Three, standardize the behavior of the transaction price association. The price of national accounting standards of related party transactions made specification, associated parties in the purchase and sale process, should be strictly in accordance with the uncontrolled comparable price, resale price method and cost plus pricing. Four, increase the transaction audit effort. Make full use of the listing Corporation annual report audit, reserved opinions issued by the major transactions of the accounting firm for some listing Corporation disclosure of related party transactions, risk and help investors to correctly understand the real performance of a company and the potential for related party transactions. Audit market intermediaries can make evaluation fair market transactions to the listing Corporation, the evaluation of the independent non-executive directors and the general meeting of shareholders and investors to make correct judgment of the related transactions of the company to the company. Five, additional supervisors representative litigation system. According to the provisions of the "company law", related party against the interests of the company, the company can serve as subject of claim right exercised to the people the right to request relief association. Practice has proved, the possibility that the company the right to request Relief Association of people to exercise is very small. When the correlation of people especially associated parent company or directly against the interests of the company, the board of directors of the company, the manager for their own interests, not easy to exercise right of relief, and most unfair connected transaction is the board of directors of the company, in the big shareholders, manager and related persons, damage results for their design and expectations, they would not allow the company to exercise right of relief in the expected to the related people. But as the company supervision mechanism of the board of supervisors, at this time should be on behalf of the company to exercise the right to related people.