Group 1 - The Ministry of Finance has issued the "Guidelines for the Application of the Basic Standards for Corporate Sustainable Disclosure (Trial)" which includes eight key areas such as value chain, information relevance, and sustainable risk assessment [1] - The "Interim Regulations on Accounting Treatment of Local Government Special Bonds" have been established to enhance the management mechanism and strengthen the full-process management of special bonds, effective from January 1, 2026 [2][3] - The new regulations emphasize the accounting treatment for enterprises receiving special bond funds, ensuring that the economic substance of these transactions is accurately reflected in financial statements [3] Group 2 - The Shanghai Stock Exchange has revised its self-regulatory guidelines for listed companies, significantly simplifying the filing documents and reducing the number of documents required by over 50% [4] - The revised guidelines aim to improve the user-friendliness of announcement formats and streamline the regulatory process for listed companies [4] Group 3 - The latest publication from Ernst & Young provides general information and is not intended to serve as professional advice in accounting, tax, or legal matters [5] - The publication emphasizes the importance of consulting with advisors for specific opinions [5] Group 4 - The International Accounting Standards Board has released amendments to International Financial Reporting Standard 19, as noted in the latest issue of "International Financial Reporting Standards Development Dynamics" [6]

Core Viewpoint - The Ministry of Finance of China has issued new regulations for the accounting treatment of local government special bonds, aimed at enhancing the management of special bonds throughout their lifecycle [1][2]. Group 1: Regulations Overview - The new regulations, titled "Interim Provisions on the Accounting Treatment of Local Government Special Bonds," consist of five parts, detailing the accounting treatment for both administrative and enterprise project units [1]. - The regulations provide detailed guidelines for the accounting and information aggregation related to special bonds, which will help project units use special bond funds in a standardized manner and manage financial risks effectively [1][2]. Group 2: Accounting Treatment - The regulations specify that project units must determine their obligation to repay principal and interest based on the project implementation plan or financing balance plan. If the plan stipulates that the project unit is responsible for repayment, it must recognize the liability; otherwise, it should not [1]. - The regulations require all project units, whether administrative or enterprise, to report on special bond projects using specific forms that reflect the asset construction status, funding sources and usage, and repayment status of special bonds [2]. Group 3: Information Aggregation - The lack of a comprehensive information reporting and aggregation system has made it difficult to form a complete picture of special bond project funds and assets. The new regulations aim to address this issue by mandating project units to compile and report relevant information [2]. - By aggregating information on special bond projects, the regulations will provide important data for macro management and decision-making at both regional and national levels [2].