China Securities Regulatory Commission Revises and Issues "Guidelines on Information Disclosure Content and Format for Publicly Offered Securities Investment Funds No. 2 — Content and Format of Periodic Reports"

People’s Financial News, March 13 — To implement the “Action Plan for Promoting High-Quality Development of Publicly Offered 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” (hereinafter referred to as the “Guidelines”). The new guidelines will take effect from May 1, 2026. The Guidelines consist of 3 chapters and 36 articles, with the main revisions as follows:

1. Integration of disclosure items that are the same or similar across annual, semi-annual, and quarterly reports.
2. Providing targeted and personalized disclosure requirements based on the different functions of annual, semi-annual, and quarterly reports.
3. Simplifying and adjusting some information disclosure requirements based on higher-level regulatory requirements and industry practices, drawing on the experience of mature overseas markets.
4. Clarifying that the Asset Management Association of China will develop expandable business report language (XBRL) templates in accordance with the Guidelines and the disclosure activities.