Beijing Stock Exchange Publishes First Information Disclosure Evaluation for Listed Companies
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On October 31, the Beijing Stock Exchange (BSE) released the inaugural 2024–2025 evaluation of information disclosure for its listed companies, establishing a formal framework for monitoring transparency and governance compliance.
The assessment covered 262 companies listed before December 31, 2024, and focused on three core areas:
Compliance and effectiveness of disclosures
Investor relations and public communication practices
Corporate social responsibility reporting, including ESG initiatives
Results, derived from company self-assessments and BSE review, were as follows:
A (Excellent): 48 companies (18.3%)
B (Good): 178 companies (67.9%)
C (Qualified): 31 companies (11.8%)
D (Unqualified): 5 companies (1.9%)
A majority of companies—86.2%—achieved A or B ratings, reflecting generally robust compliance and proactive disclosure practices. Many firms implemented cash dividends or share buybacks, engaged in research institution surveys or investor meetings, and voluntarily published ESG or CSR reports.
The evaluation framework represents a regulatory tool to strengthen corporate governance and operational transparency. According to Shi Shuo, assistant researcher at Fudan Development Research Institute, this marks a transition from post-event enforcement to continuous supervision, establishing a systematic link between disclosure quality, governance standards, and corporate accountability.
Companies receiving lower ratings are expected to enhance internal controls, improve the timeliness and completeness of material disclosures, and strengthen investor communication and transparency systems.
An analysis of BSE 50 constituent stocks indicates strong disclosure performance among leading companies, with most achieving A or B ratings. The evaluation highlights the exchange’s commitment to systematic, rules-based oversight, reflecting broader efforts in China’s capital markets to embed transparency and compliance as central pillars of corporate operation and market integrity.
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