Exchange closer to fast-tracking information disclosure

A guideline has been announced by the Shanghai Stock Exchange for the fast-tracking of information disclosure by listed companies, to improve service quality.

The fast-tracking, which will enable listed firms to register and disclose information by themselves, will take effect from July 1, according to the guideline.

Some 66 percent of statements by listed companies will be publicized through fast-tracking, the statement said.

Fast-tracking will not be applied to information disclosure on issues such as acquisitions, mergers, bankruptcies, reorganizations, delistings and refinancing. Disclosure of such information will be subject to verification by the exchange to protect the interests of shareholders, under the guideline.

A source with the exchange said it will also consider launching real-time information disclosure during trading hours soon after fast-tracking starts in July.