23 April 2019

Shanghai bourse issues new disclosure guidelines, paper says

The Shanghai Stock Exchange has issued new guidelines on information disclosures by listed firms in a bid to enhance the protection of investors’ interests, the China Securities Journal reported Friday. Under the guidelines, listed firms are required to disclose more information on their operations and industry business prospects. For example, real estate companies should make public their land reserves data, property sales and rentals data, while oil and gas companies are required to disclose operating data, oil and reserves data as well as any developments that affect the reserves situation. If any single block makes up 15 percent or more of an energy company’s total proven reserves, it should be disclosed separately, the report said.

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