Majority of listed companies reluctant to disclose information  

中国99%上市公司自愿性信息披露指数“不及格”

(ECNS) -- More than 99 percent of listed Chinese companies fail to score 60/100 in terms of voluntarily disclosing information, Economic Information reported. 

Only 13 out of 2,464 firms crossed the passing line, according to a report drawn up by researchers at Beijing Normal University (BNC) that rated companies on their openness in areas including locations, industry, and ownership. 

The provinces of Henan, Guangxi and Jiangxi were found to be home to businesses with the highest voluntary disclosure rankings. 

However, going by industry, financial companies had the highest average disclosure index (45.54), followed by construction firms (43.85). 

Gao Minghua, director of the Corporate Governance and Enterprise Development Research Center at BNC, said private enterprises are more willing than state-owned enterprises (SOEs) to disclose financial information. 

Based on ownership, the average disclosure index of listed companies came to 41.7, while SOEs and private entities scored 41.42 and 42.01 respectively.