(单词翻译:单击)
Disclosure rules for listed companies could be finalized1 in the next six months, Ge Chazhong, an official affiliated2 with SEPA, told China Daily.
Environmental disclosure and inspection3 requirements have already been tightened4 for companies applying for their initial public offer (IPO) of shares.
Companies going public are required by China's existing securities regulations to guarantee disclosure of truthful5 environmental details together with financial records in IPOs 36 months prior to floating.
Deliberate or premeditated cover-ups risk administrative6 penalty and criminal conviction, according to regulations enacted7 in May 2006.
Ge said SEPA officials are now working on specific terms for compulsory8 corporate9 environmental disclosure for enterprises already listed.
He said he hopes for cooperation with the China Securities Regulatory Commission (CSRC) to develop a new set of regulations by mid-2008.
At a recent forum10 on environmental protection and financial service in Beijing, Ge criticized Chinese public companies for generally poor environmental disclosures containing only "qualitative11 descriptions" and "scant12 information".
Some 2006 annual reports included "just a few characters" or "a dozen or so characters" on their environmental responsibilities, he lamented13.
But in future, SEPA and CSRC will seek to force public companies to provide detailed14 information in annual reports.
Proper environmental disclosure by publicly listed companies is a key issue because they feature among the country's largest enterprises and have an important bearing on the overall economy, Ge pointed15 out.
Companies may soon be forced to report key emission16 indexes, such as SO2 and CO2, and records and goals in energy efficiency and emission cuts, along with investment-related data.
If companies fail to comply with the Environmental Protection Law and government regulations, fail also to disclose their environmental performance or release false information, they will be subject to penalty by law and be blacklisted on government websites.
"Once the first draft comes out, we will start consulting with the CSRC and corporate representatives to revise for the final version," Ge told China Daily.
He also mentioned a study that found just half of 200 Chinese public companies included environmental details in their 2006 annual reports, with none specifying17 emissions18 data and pollution control investment.
Future mandatory19 environmental disclosure will, according to Ge, facilitate environmental law reinforcement and prompt people to duly weigh environmental factors in investment decisions.
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1
finalized
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| vt.完成(finalize的过去式与过去分词形式) | |
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2
affiliated
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| adj. 附属的, 有关连的 | |
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inspection
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| n.检查,审查,检阅 | |
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tightened
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| 收紧( tighten的过去式和过去分词 ); (使)变紧; (使)绷紧; 加紧 | |
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truthful
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| adj.真实的,说实话的,诚实的 | |
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administrative
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| adj.行政的,管理的 | |
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7
enacted
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| 制定(法律),通过(法案)( enact的过去式和过去分词 ) | |
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8
compulsory
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| n.强制的,必修的;规定的,义务的 | |
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9
corporate
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| adj.共同的,全体的;公司的,企业的 | |
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forum
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| n.论坛,讨论会 | |
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qualitative
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| adj.性质上的,质的,定性的 | |
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scant
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| adj.不充分的,不足的;v.减缩,限制,忽略 | |
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lamented
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| adj.被哀悼的,令人遗憾的v.(为…)哀悼,痛哭,悲伤( lament的过去式和过去分词 ) | |
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detailed
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| adj.详细的,详尽的,极注意细节的,完全的 | |
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pointed
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| adj.尖的,直截了当的 | |
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16
emission
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| n.发出物,散发物;发出,散发 | |
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specifying
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| v.指定( specify的现在分词 );详述;提出…的条件;使具有特性 | |
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emissions
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| 排放物( emission的名词复数 ); 散发物(尤指气体) | |
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mandatory
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| adj.命令的;强制的;义务的;n.受托者 | |
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