A staff member walks past the Shenzhen Stock Exchange in Shenzhen, south China's Guangdong Province, Sept. 21, 2020. (Xinhua/Mao Siqian)
BEIJING, May 8 (Xinhua) -- China's Shenzhen Stock Exchange (SZSE) released on May 5 two corporate bond-related business directives to further enhance solvency-centered information disclosure mechanism construction, reported Xinhua Finance on May 5.
The two directives specify the regular and interim reporting requirements for information disclosure of corporate bonds in their periods of duration, highlighting the effectiveness and pertinence of information disclosure and duties fulfillment of market entities.
Under the regulator reporting directive, information disclosure of corporate bond issuers' overall operating performance and risk circumstances is attached importance to together with analysis of their significant changes such as changes in business segments and operating conditions, significant related parties transactions and actual controllers. Requirements over disclosure of information that largely affects their solvency capacity are optimized and requirements on information disclosure of key items change on balance sheets, changes in the scope of combined balance sheets, and significant overdue debt are refined.
In the interim reporting directive, timely disclosure and early warning of significant affairs are further strengthened, including unifying the disclosure requirements for regular factors in interim reporting of significant affairs, adding disclosure requirements for information closely relative to credit risks of corporate bond issuers, optimizing related disclosure arrangements and etc.
For corporate bond issuers that have entered bankruptcy process and restructuring circumstances specified in the directives, targeted information disclosure requirements, under which such corporate issuers shall disclose information about assets and liabilities that greatly affect their bankruptcy clearing or risk treatment, are provided in both of the directives.
Apart from these, the two directives also improve information disclosure requirements for related institutions such as the credit enhancement entities and trustees to urge related market entities to better fulfill their duties to optimize supervision over corporate bond business. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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