中国证监会，重磅发声！

Core Viewpoint - The China Securities Regulatory Commission (CSRC) is committed to gradually improving the sustainable disclosure system for listed companies, emphasizing high-quality development and effective implementation of policies [2][4]. Group 1: Sustainable Disclosure System - Over the past five years, there has been significant progress in sustainable disclosure among listed companies, with a focus on high-quality development [2]. - The CSRC has developed a structured and distinctive sustainable disclosure rule system, which includes mandatory guidelines for sustainable development reports [4][5]. - The first mandatory rules for sustainable disclosure were established by the CSRC in collaboration with stock exchanges, effective from April 2024 [4]. Group 2: Implementation and Impact - As of 2025, 1,869 listed companies disclosed their sustainable reports, representing approximately 70% of the total market capitalization, with a disclosure rate of 34.7%, an increase of nearly nine times since the end of the 13th Five-Year Plan [7]. - High-quality disclosures have enhanced the international image of Chinese listed companies, with 36.8% of MSCI China A-share index constituents seeing improvements in their ESG ratings [7][8]. - The number of companies focusing on new energy and environmental protection has reached 516, with a market value of 9.43 trillion yuan, reflecting significant growth since the end of the 13th Five-Year Plan [9]. Group 3: Future Directions - The CSRC aims to guide companies in not only telling their sustainability stories but also in achieving tangible results, fostering a cycle of governance and development [8]. - The sustainable investment scale has grown significantly, with sustainable index products reaching approximately 125 billion yuan by October 2025, more than doubling since the end of 2020 [9].