登录新浪财经APP 搜索【信披】查看更多考评等级 （来源：中国政府采购报） 政采支持绿色建材政策实施城市扩展至101个 2025年1月1日开始实施的《关于进一步扩大政府采购支持绿色建材促进建筑品质提升政策实施范围的通知》，将政策实施范围进一步扩大至101个城市 （市辖区）。同步发布的《绿色建筑和绿色建材政府采购需求标准（2025年版）》（以下简称《需求标准（2025年版）》）以推动城乡建设绿色发展为目 标，运用政府采购政策积极推广应用绿色建材，形成支持建筑领域绿色低碳转型的长效机制。《需求标准（2025年版）》创新提出了绿色建材"必选+可 选"的选用规则，显著提升了标准的可操作性和适应性。其中，必选类绿色建材重点考虑两方面因素：一是将采购量大、减碳效益突出的主体和地基基础 材料列为必选类，包括钢结构构件、混凝土结构构件、预拌混凝土、预拌砂浆、钢筋等；二是针对影响群众居住品质的隔声效果不好、保温隔热性能不 佳、室内空气污染等突出问题，选取部分典型绿色建材列为必选类，如门窗、保温隔热材料、隔墙材料、涂料等。可选类绿色建材可由各政策实施城市结 合实际，灵活选择性价比高的绿色建材，仅对总体选用种类作出要求，即需达到该 ...

2024年ESG相关报告名称类别。 另一值得关注的问题是，上市公司ESG信息披露偏重宏大叙事而缺乏具体举措。报告指出，在气候变化 议题、员工安全等议题上，多数企业虽建立相关的规章制度和委员会，但并未有具体的实施举措和数 据。此外，上市公司ESG负面信息披露的规范性严重不足。其中，企业以形象宣传心态对待ESG报告的 发布，负面信息披露率极低，或将负面信息包装成正面治理成就，"丧事喜报"现象突出。 对此，为完善ESG生态，助力企业ESG信息披露，报告认为，企业要高度重视ESG的重要价值，补充完 善ESG信息披露准则体系，推进ESG信息的规范化披露。同时，加快完善ESG基础设施与生态体系—— 这就需具备专业的人才和技术条件，可通过创新高校教学组织模式，培养"ESG+"复合型人才。 上市公司披露的ESG报告存在哪些问题？12月16日，南方都市报举办的"2025可持续发展创 新生态大会"上，上海财经大学富国ESG研究院副院长郭峰以《我国上市公司ESG信息披露 现状的大模型诊断》为题发表了演讲。 近年来，我国上市公司ESG信息披露进程加速，其 成效与挑战究竟如何？郭峰教授及其团队历时一年，开创性地运用大模型技术对海量ES ...

Group 1 - The Ministry of Commerce, the People's Bank of China, and the Financial Regulatory Bureau have jointly issued 11 policy measures to enhance the collaboration between commerce and finance to boost consumption [1] - The policies include exploring various methods such as financing guarantees, loan interest subsidies, and risk compensation to guide credit funds towards key consumption areas [1] Group 2 - The mandatory disclosure of sustainable development reports for listed companies is approaching, with many companies starting to prepare their reports for the 2025 fiscal year [2] - Companies are focusing on core performance indicators and aligning with international standards to improve communication with global clients [2] - The industry is transitioning from passive compliance to proactive enhancement in ESG information disclosure [2] Group 3 - The Central Financial and Economic Affairs Commission plans to introduce incremental policies next year based on the evolving economic situation [3] - Emphasis will be placed on stabilizing and improving quality and efficiency while enhancing macroeconomic governance effectiveness [3] Group 4 - The A-share market has shown a "weak Shanghai, strong Shenzhen" trend, with the ChiNext Index rising by 2.74% and the Shenzhen Component Index by 0.84%, while the Shanghai Composite Index fell by 0.34% [4] - The central economic work conference has positively influenced market expectations and confidence, indicating a gradual unfolding of the cross-year market trend [4] Group 5 - Over 50 funds have doubled their net value this year, with the top-performing fund achieving a return of 218% [5] - Most of these funds are heavily invested in artificial intelligence stocks, and individual stock performance will be crucial for final rankings [5] Group 6 - 14 companies undergoing restructuring are entering the execution phase of their plans, with significant risks of stock price declines due to capital reserve transfers [6] - Investors are advised to focus on the details of restructuring plans and the potential for fundamental improvements [6] Group 7 - The performance of consumption-themed funds has raised questions due to significant deviations from their performance benchmarks, prompting regulatory responses to recalibrate these benchmarks [8] - Regulatory measures aim to ensure that performance benchmarks accurately reflect fund managers' capabilities and stability [8] Group 8 - The ETF market has seen significant expansion this year, with total growth exceeding 2 trillion yuan, particularly in core index-linked products [9] - Four categories of index-linked ETFs have each surpassed 100 billion yuan in growth, indicating a shift in the use of ETFs as a diversification tool [9] Group 9 - New regulations for public fund sales are being proposed to address issues of blind scale growth and unregulated practices in live sales [10] - The proposed guidelines emphasize the importance of assessing fund performance based on investor outcomes rather than just sales volume [10] Group 10 - Insurance companies have made 38 equity stakes this year, the highest since 2016, with a focus on H-share listed companies [11] - The trend of multiple stakes in the same company is expected to continue into 2026, with traditional sectors remaining stable while technology sectors may see increased interest [11] Group 11 - Several communication equipment-themed ETFs have shown remarkable performance, with many exceeding a 100% increase in net value this year [12] - There are noticeable differences in fund flows among various themes, indicating diverse investor behaviors [12] Group 12 - Public fund institutions are actively targeting opportunities in the Hong Kong stock market, with many shortening fundraising periods for new funds [13] - The enthusiasm for investment in Hong Kong stocks is evident despite recent market adjustments [13]

距离2026年已为时不远，部分上市公司可持续发展报告强制披露迎来"首考"倒计时。中国证券报记者了 解到，多家上市公司已启动2025年度可持续发展报告编制工作，有的公司计划将披露重心放在核心绩效 指标，以提升大众的阅读体验；有的公司计划对标国际主流标准，助力沟通全球客户；有的公司将可持 续发展报告与社会责任报告分开编制，以强化报告主题。 业内人士认为，以可持续发展报告为载体，我国上市公司ESG信息披露正处于从"被动合规"向"主动提 升"的关键转型期。其中，气候、供应链等定量数据的信息披露仍面临部门协同、人才短缺、工具不足 等挑战，并受限于信息披露成本，还需通过政策指引、标准梳理、技术支持等举措，辅助企业提升信息 披露质量，让ESG信息真正创造价值。 ● 本报记者郑萃颖 新报告季开启 12月即将过半，各家上市公司已陆续启动2025年度可持续发展报告编制工作。中国环境科学研究院环境 社会学室主任阳平坚表示，较之以前年份，2025年度报告编制和信息披露最大的不同之处在于监管制度 升级和信息披露要求深化。 "在制度层面，修订后的《上市公司信息披露管理办法》自今年7月1日起正式生效，首次在证监会部门 规章层面明确要求上市 ...

12月即将过半，各家上市公司已陆续启动2025年度可持续发展报告编制工作。中国环境科学研究院环境 社会学室主任阳平坚表示，较之以前年份，2025年度报告编制和信息披露最大的不同之处在于监管制度 升级和信息披露要求深化。 距离2026年已为时不远，部分上市公司可持续发展报告强制披露迎来"首考"倒计时。中国证券报记者了 解到，多家上市公司已启动2025年度可持续发展报告编制工作，有的公司计划将披露重心放在核心绩效 指标，以提升大众的阅读体验；有的公司计划对标国际主流标准，助力沟通全球客户；有的公司将可持 续发展报告与社会责任报告分开编制，以强化报告主题。 业内人士认为，以可持续发展报告为载体，我国上市公司ESG信息披露正处于从"被动合规"向"主动提 升"的关键转型期。其中，气候、供应链等定量数据的信息披露仍面临部门协同、人才短缺、工具不足 等挑战，并受限于信息披露成本，还需通过政策指引、标准梳理、技术支持等举措，辅助企业提升信息 披露质量，让ESG信息真正创造价值。 ● 本报记者 郑萃颖 新报告季开启 "在制度层面，修订后的《上市公司信息披露管理办法》自今年7月1日起正式生效，首次在证监会部门 规章层面明确要求上 ...

本文由第三方AI基于财新文章 [https://a.caixin.com/8So80ZOk](https://a.caixin.com/8So80ZOk) 提炼总结而成，可能与原文真实意图存在偏差。不代表财新观点和立场。推荐点击链接阅读原文细致比对和校验 Summary of Key Points Industry Overview - The report focuses on the emerging micro-drama industry in China, particularly in the cities of Xi'an and Zhengzhou, which are becoming significant hubs for internet content production [15][21][24] Core Insights and Arguments - **Production Capacity**: Xi'an and Zhengzhou are producing 40%-60% of the country's micro-drama content, with over 200 companies in Xi'an alone [19][21] - **Rapid Production**: Micro-dramas can be filmed quickly, with some productions completing 60 episodes in just five days [19][21] - **Economic Impact**: The micro-drama industry is generating substantial revenue, with some productions achieving over 50 million yuan in user recharge on their launch day [16][19][34] - **Talent Pool**: Both cities have a large population and numerous universities, providing a steady stream of young talent for the industry [28][44] - **Business Models**: Companies operate on two main models: contract-based production for platforms and self-developed scripts for direct sales [24][34] Emerging Trends - **Content Quality**: There is a shift towards higher quality content as audiences become fatigued with low-quality productions [37][56] - **Market Dynamics**: The industry is experiencing a "bottleneck" in terms of profitability, with production costs rising and profit margins shrinking [56][58] - **Platform Dependency**: The success of micro-drama companies is heavily reliant on platforms like Hongguo, which provide funding and distribution [36][56] Challenges and Risks - **Regulatory Scrutiny**: The industry faces increased regulation, with authorities cracking down on low-quality content [36] - **Sustainability**: The rapid growth of the industry raises concerns about sustainability and the potential for oversupply [56][58] - **Labor Conditions**: The intense work schedules and high demands on crew and actors have raised concerns about labor conditions in the industry [58] Additional Important Insights - **Technological Integration**: The use of AI and data analytics is becoming more prevalent in content creation and audience engagement strategies [11][12] - **Educational Initiatives**: Collaborations between universities and production companies are emerging to enhance skill development in the industry [47][48] - **International Expansion**: Some companies are exploring opportunities to produce content for international markets, although challenges remain [38][40] This summary encapsulates the key points from the report, highlighting the growth, challenges, and dynamics of the micro-drama industry in China.

Core Insights - The discussion at the Shanghai Stock Exchange International Investor Conference highlighted the transition of ESG information disclosure in China towards a more legal and standardized phase, presenting an opportunity for companies to reduce communication costs [1][3]. Group 1: ESG Disclosure and Regulations - The new sustainable information disclosure regulations from the Shanghai Stock Exchange align with international standards, enhancing data comparability and aiding foreign capital in understanding Chinese enterprises [3]. - Since 2025, an increasing number of investors have begun to reference the data disclosed in corporate sustainability reports, closely linked to the ongoing improvements in the Shanghai Stock Exchange regulations [3]. Group 2: Company Practices and Challenges - The main challenge for Inner Mongolia Yili Industrial Group is integrating a high-quality data management system with existing management systems, which tests both the precision of daily management and the commitment to long-term sustainable development [3]. - By 2025, Yili has fully upgraded its greenhouse gas emissions digital system, connecting various segments such as farms, storage, logistics, and raw materials, laying a solid foundation for future Scope 3 disclosures and sustainability report verification [3].

Core Insights - The Hunan Securities Regulatory Bureau emphasizes the importance of high-quality development for listed and pre-listed companies in Zhuzhou, showcasing their resilience and innovation capabilities [1][4] - Companies are encouraged to focus on technological innovation, enhance transparency, and adhere to regulatory compliance to strengthen their market position [3][4] Group 1: Company Performance and Development - Listed and pre-listed companies in Zhuzhou demonstrate strong operational resilience and innovation vitality, with stable revenue and profit growth, contributing significantly to local tax revenue and employment [1] - Companies are committed to technological innovation, increasing R&D investments, and achieving key technological breakthroughs to enhance core competitiveness [1][2] Group 2: Regulatory Support and Policy Measures - The regulatory team engaged with companies to discuss their operational status, future plans, challenges, and suggestions for optimizing the business environment, addressing issues like financing needs and market access [2] - The regulatory body clarified policies aimed at improving the quality of listed companies and supporting technological innovation, emphasizing the importance of capital market utilization for growth [2] Group 3: Future Development Requirements - Companies are urged to focus on innovation and increase R&D investments to tackle critical technological challenges and transition scientific achievements into productive capabilities [3] - There is a strong emphasis on enhancing transparency and fulfilling information disclosure obligations to reduce information asymmetry and improve communication with the market [3] - Companies must maintain compliance with laws and regulations to prevent financial fraud and ensure the integrity of financial information, particularly for pre-listed firms [3] Group 4: Corporate Responsibility and Investor Relations - Companies are encouraged to focus on core operations, improve performance, and return value to investors through stable cash dividends and share buybacks [4] - There is a call for companies to actively fulfill social responsibilities, contributing to employment stability and industry development [4]

Core Insights - The seminar on "A-share companies listing in Hong Kong" highlighted the strategic importance of Hong Kong as a financing channel for A-share listed companies, emphasizing the need for companies to leverage the "A+H" dual capital platform to enhance governance and global brand influence [1][3][5]. Group 1: Market Opportunities - The Hong Kong market presents a unique strategic opportunity for mainland companies, supported by national policies encouraging listings in Hong Kong [1]. - The integration of mainland and Hong Kong capital markets is leading to a convergence in regulatory logic and systems, enhancing the feasibility of the "A+H" strategy [3]. Group 2: Financial and Tax Considerations - A-share companies must prepare comprehensive financial documentation for Hong Kong listings, with a focus on common pitfalls in financial disclosures [5]. - Tax compliance and planning are critical, with emphasis on adhering to the latest regulatory trends and optimizing tax efficiency during the listing process [5][7]. Group 3: ESG and Compliance - ESG information disclosure has become mandatory in the Chinese capital market, with Hong Kong leading the way by requiring ESG data during the IPO phase [7]. - Companies are advised to establish robust ESG management systems and internal controls to meet the evolving regulatory landscape in Hong Kong [8][10]. Group 4: Expert Insights and Discussions - A panel discussion featured experts from various sectors discussing the challenges and regulatory considerations for companies pursuing listings in Hong Kong, focusing on the "A to H" listing pathway and long-term value management [10]. - The seminar underscored the importance of understanding the latest trends and regulatory policies in the Hong Kong capital market for A-share companies [10][11].

Group 1 - The core viewpoint emphasizes the potential risks associated with ESG information disclosure, including reputation, compliance, and operational risks due to misinterpretation and misuse of sensitive data [1] - Companies are advised to establish a robust internal control system to integrate ESG data management into their risk management framework, ensuring data accuracy, completeness, and security to prevent "greenwashing" or data leaks [1] - Companies should adhere to principles of "caution, responsibility, and transparency" in their disclosures, providing clear policies, data, and actions, while outlining challenges and plans for unmet goals to avoid overcommitment [1] - Engaging independent third parties for verification of ESG reports is recommended as an effective method to enhance information credibility and protect corporate reputation from "greenwashing" allegations [1] Group 2 - To improve ESG ratings, companies should focus on key issues relevant to their industry and stakeholders, prioritizing resource allocation for effective management [2] - Companies are encouraged to set quantifiable goals with timelines and continuously disclose progress to demonstrate actual results to rating agencies and the market [2]