The China Securities Regulatory Commission revises and issues the "Guidelines for Content and Format of Information Disclosure of Publicly Offered Securities Investment Funds No. 2—Periodic Reports"

To implement the “Action Plan for Promoting the High-Quality Development of Public Funds,” protect the legitimate rights and interests of fund shareholders, and enhance industry transparency, the China Securities Regulatory Commission (CSRC) has integrated and revised the “Guidelines for Content and Format of Securities Investment Fund Information Disclosure No. 2—Annual Reports,” “Guidelines for Content and Format of Securities Investment Fund Information Disclosure No. 3—Semi-Annual Reports,” and “Guidelines for Content and Format of Securities Investment Fund Information Disclosure No. 4—Quarterly Reports,” and renamed them as the “Guidelines for Content and Format of Publicly Offered Securities Investment Funds—Periodic Reports No. 2” (hereinafter referred to as the “Guidelines”). The Guidelines will come into effect on May 1, 2026. The Guidelines consist of 3 chapters and 36 articles, with the main revisions as follows:
First, integrating disclosures that are the same or similar across annual, semi-annual, and quarterly reports.
Second, proposing targeted and personalized disclosure requirements based on the different functions of annual, semi-annual, and quarterly reports.
Third, simplifying and adjusting some information disclosure requirements based on higher-level regulatory requirements and industry practices, drawing on the experience of mature overseas markets.
Fourth, clarifying that the Asset Management Association of China will develop expandable business report language (XBRL) templates in accordance with the Guidelines and the status of information disclosure activities. (CSRC)