China’s initiatives to enhance corporate sustainability reporting have accelerated in recent years. On 17 December 2024, the Ministry of Finance, in conjunction with nine other departments, presented new standards, which are intended to standardize the disclosure of ESG information nationwide. China started this process with a draft released in May 2024, integrating input to finish the standards.

The standards seek to harmonise global ESG integration with local Chinese concerns, including climate change and rural development. The standards will be implemented in 2026, making ESG reporting compulsory for large publicly listed entities. The entire framework is expected to enter into force by 2030.