China Securities Regulatory Commission (CSRC) emphasizes disclosure of IP information

The newly revised “Regulation of Annual Report for the Growth Enterprises Market (GEM) Board” has now reached the committee stage.[1]  Disclosure of IP information will be, for the first time, a point of focus in the Regulation.

Article 22, section 4 of the draft for solicitation of opinions requires companies to disclose if, during the reporting period, there have been significant changes to their intangible property, which includes patents, trademarks or other non-patents. The section also requires the disclosure of the causes for those changes. The new revision would require the listed companies to analyze the risks and consequences of the changes in their core competitiveness, which is also defined as patent, non-patent and franchise rights. The companies are also required to explain the conditions and solutions to those risks and consequences to those who will be seriously affected by the changes.


[1] The revisions are now at the stage of solicitation for opinions; a draft is available for review here.

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