The guidelines aim to transform China’s approach to ESG by introducing sustainability disclosure rules for large listed companies.
By Hui Xu, Paul A. Davies, Jean-Philippe Brisson, and Qingyi Pan
On February 8, 2024, under the auspices of the China Securities Regulatory Commission (CSRC), each of China’s three major stock markets — Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange— unveiled draft guidelines on sustainable development reports (SDRs) (collectively referred to as the Guidelines). The Guidelines require the largest Chinese public companies to publish high-quality and standardized SDRs, and are open for public comment until February 29, 2024.