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China regulates corporate transparency

Updated: Aug 28,2014 2:03 PM     Xinhua

An interim regulation on disclosure of corporate information, to take effect on Oct 1, 2014, has been approved by the State Council, China’s cabinet, and endorsed by Premier Li Keqiang.

Companies will be obliged to deliver annual reports to industrial and commercial authorities between Jan 1 and June 30 each year.

Reports will contain information such as contacts, profits, tax payments and other business activities including details of new subsidiaries and stake purchases.

Industrial and commercial government departments will monitor disclosure and are obliged to disclose information regarding their own work with companies.

The regulation follows February’s changes to business registrations to ease market access.