Listed firms must disclose foreign holdings
February 09, 2009 | BY
clpstaff &clp articles &Information on foreign assets and liabilities to be included in annual reports
All mainland-listed companies must now disclose details of foreign assets and liabilities in their 2008 annual reports.
The China Securities Regulatory Commission (CSRC) recently published a notice on its website detailing the new disclosure requirements, which take effect immediately. The Notice of the CSRC [2008] No.48 was issued on December 26 2008 and describes the new requirements in detail.
The Commission has also provided a form which should be completed and filed along with a listed company's annual report. The form provides space to list any financial assets and liabilities denominated in foreign currencies. When filling in the form, the amounts must be converted into renminbi, however.
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