China's stock exchanges have issued revised guidelines for corporate sustainability disclosures, underscoring China's ongoing proactive efforts to foster sustainable and high-quality growth among listed enterprises while aligning with international environmental, social, and governance standards.
The Shanghai, Shenzhen and Beijing bourses, under the guidance of the China Securities Regulatory Commission, released revised sustainability reporting guidelines on Friday, following public consultation.
The guidelines come ahead of the mandatory ESG disclosures for eligible listed companies, set to be enforced in 2026, with the aim of refining environmental reporting standards and offering more precise, actionable guidance.
Covering pollutant emissions, energy consumption, and water resources, the revised guidelines offer detailed guidance and standardized methods to help firms better identify risks and opportunities, calculate data and disclose key information.
According to the Beijing Stock Exchange, the revision aligns with business realities, avoiding additional mandatory disclosures, and seeks to gradually raise listed companies' awareness of environmental and resource conservation responsibilities.
Zhang Yan, deputy director-general of the Department of Listed Company Supervision at the commission, said that despite global fluctuations in the sustainability landscape, China remains committed to refining its disclosure system by striking a balance between international alignment and domestic priorities while adopting a phased, pilot-led approach to policy execution.
By 2025, the number of companies publishing sustainability reports reached 1,869 — representing about 70 percent of total market capitalization and effectively meeting investor demand.
Notably, 34.7 percent of all listed companies now provide these disclosures, a nearly ninefold increase since the end of the 13th Five-Year Plan period (2016-2020), according to official data.
