CSRC: Refine disclosure requirements to guide listed companies in promptly paying amounts owed to small and medium-sized enterprises

On September 14, the State Council Information Office held a routine policy briefing to introduce work related to strengthening the governance of the problem of difficult payment collection for small and medium-sized enterprises. Guo Ruiming, director of the Listed Company Supervision Department of the China Securities Regulatory Commission, said that as of the end of April this year, among listed companies on the Shanghai and Shenzhen stock exchanges that disclosed sustainability reports, more than 100 listed companies had disclosed, as required, information on treating small and medium-sized enterprises equally. At the same time, it was also noted that a considerable number of listed companies are small and medium-sized enterprises and also face payment collection problems. Guo Ruiming said that next the CSRC will "work with both hands": on the one hand, it will refine disclosure requirements and guide listed companies to shorten payment periods and pay small and medium-sized enterprises in a timely manner; on the other hand, it will increase efforts to visit listed companies and help listed small and medium-sized enterprises solve payment collection difficulties and ease cash flow pressure.