Shanghai and Shenzhen stock exchanges standardize bond repo transactions to enhance risk disclosure and compliance requirements.

According to industry sources, recently, the Shanghai Stock Exchange and the Shenzhen Stock Exchange respectively issued special notices regarding the inaccurate description and insufficient risk warnings in the investor education and publicity work of the general collateralized bond repurchase business, clarifying regulatory requirements and rectification deadlines. It is understood that both notices focus on regulating market behavior and protecting the legitimate rights and interests of investors, with highly consistent regulatory guidance and core requirements. At the same time, they present subtle differences in their respective rule systems, collectively building a compliance framework for the investor education work of the general repurchase business.