Issuing Authority:

Asset Management Association of China

DATE OF ISSUANCE:

June 12, 2026

EFFECTIVE DATE:

June 12, 2026

The Asset Management Association of China (AMAC) has issued the Guidelines on the Application of Sustainable taptap点点官方网站 Strategies for Publicly Offered Securities taptap点点官方网站 Funds (Trial Implementation)(the “Guidelines”), establishing requirements for the application of sustainable taptap点点官方网站 strategies by publicly offered securities taptap点点官方网站 funds. The Guidelines aim to standardize the application of sustainable taptap点点官方网站 strategies and protect investors’  rights and interests.

The Guidelines define sustainable taptap点点官方网站 strategies as taptap点点官方网站 approaches that incorporate environmental, social and governance (“ESG”) and other sustainability-related factors into taptap点点官方网站 analysis and decision-making. The recognized approaches include negative screening, positive screening and integrated taptap点点官方网站.

Under the Guidelines, fund managers applying sustainable taptap点点官方网站 strategies are required to establish sustainable taptap点点官方网站 evaluation systems covering ESG dimensions, formulate clear evaluation standards and rules, and regularly assess and optimize such standards. Whilst fund managers may refer to sustainability assessment information provided by third parties, the fund managers remain responsible for their taptap点点官方网站 decisions.

For funds primarily applying sustainable taptap点点官方网站 strategies, the Guidelines introduce additional requirements regarding strategy application and disclosure. Such funds must apply specified sustainable taptap点点官方网站 methods, with sustainable taptap点点官方网站 strategies covering at least 80% of non-cash fund assets. They are also required to establish performance benchmarks reflecting their sustainable taptap点点官方网站 strategies.

The Guidelines further encourage fund managers to disclose information regarding the development of sustainable taptap点点官方网站 evaluation standards and the application of sustainable taptap点点官方网站 strategies through their official websites or periodic reports. Fund managers applying sustainable taptap点点官方网站 strategies are also required to establish company-level sustainable taptap点点官方网站 principles and objectives and participate in the corporate governance of important portfolio companies.

The Guidelines took effect on June 12, 2026. Fund managers whose funds do not comply with the relevant requirements shall make adjustments within the prescribed transition period.

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