This briefing presents investor perspectives on sustainability disclosure requirements in China and identifies potential policy reforms to enhance transparency and accountability for responsible investors. It is intended for Chinese policymakers, PRI signatories, and global investors interested in China’s policy developments.

China has made significant progress in corporate sustainability disclosure and green finance, but a critical gap remains: there is currently no regulatory framework defining ESG fund products or governing how investors disclose their approach to sustainability.

This briefing examines this gap, synthesises investor insights, and draws on international experience to inform policy development. While baseline entity-level disclosure requirements exist, product-level rules remain absent, leading to severe market fragmentation and a definitional vacuum. Investors face three core tensions: standardisation versus flexibility, reliable benchmarks versus tailored indices, and domestic priorities versus global alignment. Drawing on analysis of 169 frameworks and eight Asia-Pacific jurisdictions, the briefing sets out seven policy considerations for Chinese regulators: prioritising a product-level framework, adopting a layered approach, embedding asset allocation thresholds, addressing infrastructure gaps, ensuring global alignment, recognising the role of industry associations, and grounding policy in investor protection.

Download the English and Chinese briefing in full below.

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