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zhongguokechixuxinxipiluyaoqiuzouxiangronghetongyi,qiyeruheyingdui?

saoyisaoxiazaijiemianxinwenapp

中国可持续信息披露要求走向融合统一,企业如何应对?

qiyeyinggairuhelijiezheixiezhengce?ruheyouxiao、wushidijinxingzhunbeiheguihua,yishiyingkechixuxinxipiluyaoqiu?

来源:视觉中国

5yue27ri,caizhengbufabu《qiyekechixupiluzhunze——jibenzhunze(zhengqiuyijiangao)》(yixiajiancheng“zhengqiuyijiangao”),mianxiangsuoyouqiyetigongkechixuxinxipilubiaozhuncanzhao。caizhengbuchutaideqiyekechixupiluzhunze,yiweizhewoguokechixuxinxipilukaiqilecongzhengcezhiyindaoluodidejieduan,bingqiekechixuxinxipiluyaoqiuzhengzouxiangtongyi。

gaizhengqiuyijiangaotoululejidaguanjianxinxi:

yishidingweigao。zhengqiuyijiangaoyoucaizhengbuhuitongwaijiaobu、guojiafazhangaigewei、gongyehexinxihuabu、shengtaihuanjingbu、shangwubu、zhongguorenminyinxing、guowuyuanguoziwei、jinrongjianguanzongju、zhongguozhengjianhuigong9bumenchenglikuabumengongzuozhuanban,yiguojizhunzeweijichu,zhidingtixianguojizhunzeyouyijingyan、fuhezhongguoguoqingqienengzhangxianzhongguotesedeguojiatongyidekechixupiluzhunze。

ershishiyongfanweiguang。zhengqiuyijiangaoshiyongyuzaizhonghuarenmingongheguojingneishelideanguidingkaizhankechixuxinxipiludeqiye。xiangbisandajiaoyisuomianxiangshangshigongsichutaide《shangshigongsikechixufazhanbaogaozhiyin》shiyongfanweigengguang。

sanshiyuguojikuangjiajiegui,tongshitixianzhongguotese。caizhengbuzuoweiyinruissb(guojikechixuzhunzelishihui)zhunzedebumen,cicifabudezhengqiuyijiangaozhongduiqiyexinxipiluzhiliangdeyaoqiu,yijipiludesiyaosukuangjia, yuissbfabudeifrs s1yizhi。

issbyouguojicaiwubaogaozhunzejijinhuizai2020nianlianheguoqihoubianhuadahuishangchengli,bingzai2023nian6yuefabuleifrs s1《kechixufazhanxiangguancaiwuxinxipiludeyibanyaoqiu》heifrs s2《qihouxiangguanxinxipilu》。erissbdepilukuangjiajiangbeixinjiapo、riben、hanguo、aodaliyadengyuelaiyueduoguojiacaiyong。

zhengqiuyijiangaoduipiluxinxizhiliangdeyaoqiumiaoshuwei:kekaoxing(xinxiwanzheng、zhongli、zhunque)、xiangguanxing(youzhuyuxinxishiyongzhejuece)、kebixing(qiyebutongshiqi、tongxingyebutongqiye)、keyanzhengxing、kelijiexing、jishixing。zheidianyuissbdeifrs s1duixinxizhiliangdeyaoqiujibenyizhi。

siyaosukuangjiashiqiyekechixuxinxipiludehexincaozuokuangjia,baohan“zhili、zhanlve、fengxianhejiyuguanli、zhibiaohemubiao”。zheiyidian,caizhengbudezhengqiuyijiangao、agukechixufazhanzhiyin,douyuissbbaochileyizhi。

erzai“shuangzhongshizhixing”yuanzeshang,caizhengbudezhengqiuyijiangaoyanxuleguojishanggengchuantongdegri(1997nianchenglidequanqiubaogaochangyizuzhi)kechixupilubiaozhun。“shuangzhongshizhixing”zhitongshikaolvwaibuliyixiangguanfangduiqiyedeyingxiangheqiyeduiwaibudeyingxiang。ruzhengqiuyijiangaoqicaoshuomingzhongzhichu,“jiyuzhongyaoxingyuanze,jikaolvlekechixufengxianhejiyushifouduiqiyezaochengzhongyaodedangqihuoyuqicaiwuyingxiang,youjianguleqiyehuodongshifouduijingji、shehuihehuanjingchanshengzhongyaodeyingxiang。”

tongshizhengqiuyijiangaojiyuwoguoshijizuochuguiding,birujieheguoqingyushijizhidingdepilujindu、shiyongfanwei、huanchongtiaojian,yijijiang“xiangcunzhenxing”yitinarushehuifangmiandepiluzhutideng。

shangdaozixunshouxizhuanjiaguopeiyuanduijiemianzhikufenxidao,muqianquanqiukechixuxinxipiludequshizhengzaiqianghua,bingqiechengxianchu“qiangzhihua”。“tebieshiduishangshigongsi,buguanshifouyuanyipilu,shangshigongsihedaxingqiyehuishoudangqichong。qici,balixiedingyihou,quanshijieyizhiguanzhuqihoubianhua,qihouxiangguandexinxipilubeinarukechixuxinxipilukuangjiadequshi,zaiquanqiushiyizhide。”guopeiyuanzhichu,muqianguojishangdekechixuxinxipilubiaozhunxingchengsanzudinglidequshi,fenbieshiissb、griyijioumengdekechixufazhanbaogaozhunzeesrs。

“muqianzheixiebiaozhundouzaixunqiuxingchengxietong,zengqianghucaozuoxing。”guopeiyuanbiaoshi,“biaozhuntaiduo,duiqiyezaochengfudan,suoyiyingjinliangqutong。”ciwai,chuleqihoubianhua,shengwuduoyangxingheziranxiangguandexinxipilu,yezaishoudaoyuelaiyueduodeguanzhu,jiangchengweiweilaikechixuxinxipiludeyigezhongyaofangxiang。

5yue28ri,issbguanfangzhongwengongzhonghaofawencheng,quanqiubaogaochangyizuzhi(gri)yuguojicaiwubaogaozhunzejijinhuihezuokaizhanquanmianhucaozuo,yishixiankechixubaogaowufengxianjie,yetixianleguojibiaozhunxiangronghedequshi。

sishizhengqiuyijiangaozhidinglekechixuxinxipiludeluxiantu。anzhaozhengqiuyijiangaojiqiqicaoshuoming,qiyekechixupiluzhunzebaokuojibenzhunze、jutizhunzeheyingyongzhinan,cicifabudezhengqiuyijiangaoshijibenzhunze,shiduiqiyekechixuxinxipilude“yibanyaoqiu”,yidingxingneirongjuduo,weilaihaihuichutaijutizhunzeheyingyongzhinan(xihuadaoxingye)。

ciwai,cicifabudejibenzhunzezhengqiuyijiangaoshiyizhongxuangao,weilaishishiluodideshijiananpai,shi“dao2027nian,woguoqiyekechixupilujibenzhunze、qihouxiangguanpiluzhunzexiangjichutai”,“dao2030nian,guojiatongyidekechixupiluzhunzetixijibenjiancheng”。

jinnianyilai,woguokechixuxinxipilu、esg(huanjing、shehuijigongsizhili)xiangguanzhengcemijichutai。

jinnian2yue,shangjiaosuo、shenjiaosuo、beijiaosuotongshifabu《shangshigongsizilvjianguanzhiyin--kechixufazhanbaogao(shixing)(zhengqiuyijiangao)》,jinnian5yue1rishishi。shoupiqiangzhipiludeqiye(jutongjiyou548jia)zuiwanzai2026nianfabu2025niandekechixufazhanbaogao。

jinnian3yue,shanghai、beijing、suzhouxiangjigongkaidifangcengmiandeesgxingdongjihua。jinnian4yue,renminyinxinglianheguojiafazhangaigeweidengqibumenlianhefabude《guanyujinyibuqianghuajinrongzhichilvseditanfazhandezhidaoyijian》,shoucimingquejiangesgnaruxinyongpingji。

6yue4ri,guowuyuanguoziweifabu《guanyuxinshidaizhongyangqiyegaobiaozhunlvxingshehuizerendezhidaoyijian》,tichu“jiangesggongzuonarushehuizerengongzuotongchouguanli,jijibawo、yingduiesgfazhandailaidejiyuhetiaozhan”,“tuidongkonggushangshigongsiweiraoesgyitigaobiaozhunluoshihuanjingguanliyaoqiu、jijilvxingshehuizeren、jianquanwanshangongsizhili,jiaqianggaoshuipingesgxinxipilu,buduantigaoesgzhilinenglihejixiaoshuiping,zengqiangzaizibenshichangdejiazhirentong。”

guopeiyuanduimijichutaideguoneiesgxiangguanzhengcejinxinglefenlei。“yileishiesghelvsejinronglingyudetongyongzhengce,zhulifazhanlvsejinrong、cujinditanzhuanxing;dierleishiguanyuxinxipiludezhengce,biruzhengjianhuibushu、sandajiaoyisuofabudekechixufazhanbaogaozhiyin,hecaizhengbucicidezhengqiuyijiangao;disanleishidifangdeesgxingdongfangan,zheishibijiaoyouzhongguotesedeyileizhengce。zongtilaikan,zhengcedemijichutaishiwomenyouxunijingjixiangshitijingjituidongesgdebiaoxian。”

zheixiezhengcekuangjiaduiyushichangjianshe、qiyefazhanyouhezhidaoyiyi?ruhelijiexiangguanpiluzhengcedeyaoqiu,qiyegaizuohezhunbei?jiemianzhikujinqicaifanglezhongcailvjinyuanfuyuanzhang、jiaoshou,zhongcailvzhishouxijingjixuejiashiyichen、zhongchengxinlvjinesgjiejuefanganbufuzongjianwangshuling、cdpquanqiulianxipiluzongjianlifei、shangdaozixunshouxizhuanjiaguopeiyuan,duixiashuliugewentijinxinglejieda。

一、财政部发布的《企业可持续披露准则——基本准则(征求意见稿)》,和三大交易所今年5月1日实施的可持续发展报告指引,意义有何不同?

caizhengbuzhengqiuyijiangaodechutai,shizhongguoduiguojidexuanshi,biaodawoguocanyuguojikechixuxinxipiludejijixiangyingtaidu。shiyichenzhichu,caizhengbuzaozaisannianqianjiuchenglilegongzuoxiaozu,zhuanmenzhenduiissbjiangyaofabudezhunzejinxingshenruyanjiu。caizhengbuzuoweihuijizhunzedeqiantoujianguanbumen,qiduiissbzhunzedecainaheronghe,bujintishenglekechixuxinxipiluzhengcedeweijie,gengyiweizhesuoyouqiyezhutidoujiangshoudaoqiyueshu。

“zheibujinshiduishangshigongsideyaoqiu,gengshiduisuoyouqiyezhutidepubianyaoqiu,congerjidadikuozhanleissbzhunzedeyingxiangli。”shiyichentidao,caizhengbuzhengqiuyijiangaodezhuyaokuangjianeirongyuissbdazhifuhe,danyerongrulezhongguotesedeyuansu,zheitixianlezhongguozaijiejianguojijingyandetongshi,bushizishenzhutixing。

wangshulingrenwei,zheishiguojiacengmianduiesgwentideshoucitongyifasheng。“jinguanqiyeduiesgzhongyaoxingderenshizaizhubutigao,danyouyuquefajianguan,xuduoqiyeduiyushifoucaiquxingdong,rengranyouyubujue。ercaizhengbuwenjiandechutai,jiangyouzhuyuqiyegenghaodirenshidaoesgguanlidezhongyaoxinghezuoyong。”

wangshulinghaitidao,caizhengbuzhengqiuyijiangaozhongduiqiyeesgguanlidegongzuotigonglezhiyin,tebieshiqiyexinxixitongjianshe,shiqiyetishengguanlihekechixuxinpisuoxudebiyaozhunbeigongzuo。

ciwai,shiyichenzhichu,zhengqiuyijiangaoweiqiyekechixuxinxipilutigonglejiaozhanghuanchongqi,“dao2030nian,guojiatongyidekechixupiluzhunzetixijibenjiancheng”deshijiananpai,yu2030nianzhongguoshixiantandafengdemubiaoxiangyizhi,“weiqiyetigonglechongzudeshijianlaishiyinghezhunbei”。

二、过去几年我国企业ESG信息披露/可持续信息披露程度有怎样的进展?最新的披露比率、披露质量如何?

woguokechixuxinpizhengcedejinduheqiangdushifouheliwushi,keyicongzhongguoqiyemuqiandekechixuxinxipilushuipinglaipanduan。conghuanjinghetanpaifangxinxidepilukan,guojihuanjingxinxipilujigoucdpdezuixindiaoyanshujuxianshi,zhongguoqiyedepilushuliangzengzhangxunsu。

lifeibiaoshi,qunianquanqiutongguocdppingtaijinxinghuanjingxinxipiludeqiyechaoguo23,000jia,tongbizengzhang25%,erzhongguoqiyedezengzhanglvdadao26%。yuwunianqianxiangbi,zhongguoqiyedepilushuliangzengzhanglewubei。

qizhong,zhongguoqiyezaiqihouzhilifangmiandebiaoxianyouweituchu。jutongji,qunian77%decanyucdpbaogaotianxiedezhongguoqiyetidao,qiyeneibuyoudongshihuigaocengjieruqihouxiangguanyitidezhiligongzuo,zheiyibiligaoyuquanqiupingjunshuiping。ciwai,72%dezhongguoqiyeyijingkaishizhidingqihoufengxianhejiyushibiedepingguliucheng。zhongguoqiyemuqianzuiguanzhudeqiansandaqihoufengxianleixingfenbieshijixingwulifengxian、shichangxiangguanfengxianhexinxingfaguifengxian,zheifanyingchujiduantianqikenengyijingduizhongguoqiyedeyewuyunyingdailaiyingxiang,zhongguoqiyeduiwaibushichanghejianguanbianhuayuelaiyuemingan。

zaiwenshiqitipaifanghesuanfangmian,lifeizhichu,78%dezhongguoqiyepilulefanweiyipaifang(qiyezhijiepaifang),chaoguoquanqiupingjunshuiping72%;62%dezhongguoqiyepilulefanweierpaifang(jianjiepaifang),yuquanqiupiluchiping。ciwai,tahaitidao,39%dezhongguoqiyeyijingkaishixiangcdpbaogaofanweisan(jiazhilianpaifang)depaifangshuju,gaibililvediyuquanqiupingjunshuiping(42%),yishangfenxibiaomingzhongguoqiyeyijingjubeitanhesuannengli,bingzhangwozishenpaifanghuodongxiangguanshuju。

wangshulingfenxianglezhongchengxinlvjinzuixindediaoyan,baogaodui2026nianbixupiluesgbaogaode454jiazhongguoyangbenshangshigongsi(biqitakoujingtongjide458jiashao4jia)deesgbiaoxianjinxingfenxi。tazhichu,zheixieqiyezhongyou91%yijingshixianlepilu,biliyuangaoyushichangpingjunshuiping,erzaipingjifangmian,zheixieqiyezhuyaofenbuzaiaji,zhanbichaoguo50%,erbbbheaajibiedeqiyezhanbifenbiewei29.96%he7.49%。shuomingagushoupiqiangzhipilukechixubaogaodeqiye,yijingzaiesgfangmianyousuochendian,zhengzaiyinlingxingyefazhan。

中诚信绿金报告,基于三大交易所强制披露样本企业2024年ESG信息披露与评级表现
中诚信绿金报告,基于三大交易所强制披露样本企业2024年ESG信息披露与评级表现

 shiyichenbuchongdao,juzhongcailvjinyuantuanduishuli,jinnianagushangshigongsidepilulvyijingdadao39%,xiangbiqunian33.2%heqiannianbudaosanchengdepilubili,youlexianzhutisheng。“suizhesandajiaoyisuodezhengcetuidong,yujimingniandepilulvyouwangtupo50%。”shiyichenhaitidao,zhongguoqiyezaiesgpingjifangmianyezaijinbu,youqishizaihuanjingweidu,“ciwai,xuduoqiyeyijingkaishizhongshishengwuduoyangxing,zheishiyigejijidequshi”。

三、财政部和三大交易所的指引,距离落地还有多远?

zaishangshigongsicengmian,wangshulingrenwei,jinguansandajiaoyisuodeqiangzhixingpiluyaoqiujiangzai2026nianshishi,danguliweilailiangnianqiyetiqianzuohaozhunbei。yinweisuizheweilaipiluyaoqiutigao,xuyaoqiyetiqianjinxingdinglianghedingxingneirongdezhunbei,baokuodicengshujushouji、zuzhijiagoudezhunbei。

wangshulinghaitidao,caizhengbudewenjianzuoweijibenzhunze,houxuhaihuiyougengjutidexizehezhinanfabu,erzaiguoduqinei,gexingyekeyixianzhidingzijidepilubiaozhun,ranhouzaigenjucaizhengbudejutiyaoqiujinxingtongyixiuzheng,“zheiyiguochengxuyaoshijian,shejidexingyezhongduo,xuyaozhuguanbumen、xingyexiehuidengjigoulaixiezuotuijin”。

shiyichenrenwei,qiyeluodizhengcedesudukenengbimubiaoshijiangengkuai。“lianjiaosuoyijingyaoqiumingniana+hgubixushiyongissbjiagoupiluxinxi,zheibiaomingesgxinxipiluzhengzaiguifanhuaheqiangzhihua。mingnianaguhenyoukenengba458jiadeqiangzhipilufanweijinyibukuoda。tongshiyehuiyougengduoshangshigongsianzhaoissbdekuangjiajinxingpilu。”tatongshiqiangdiaopiluzhiliangdezhongyaoxing。suizhejianguanduishujudeyanjinxinggengweizhongshi,disanfangjianzhengjiangbiandeyuelaiyuezhongyao,jiangxuyaojiaqiangjianguan,jianshaoshujuzaojiafengxian,

lifeitichu,zongheguoneiguojijianguanpiluyaoqiu,2026niankenengchengweiquanqiujizhongguoqiyebaogaokechixuxiangguanxinxideyigezhongyaoshijiandianhepiluliangjizengnianfen。ciwai,zonglanquanqiu,“qiangzhixingkechixuxiangguanxinxipiludezhuliuhuajinchengzhengzaijiasu。piluzhutibuzaijinxianyudaxingshangshigongsi,narujianguanyaoqiudepilufanweiqiye,yijingkaishixianggongyinglianshangyouhuozhongxiaoqiyezhuanyi”。

ciwaixuyaozhuyizhengceluodiguochengzhongde“lianglierxing”。jibenzhunzezhengqiuyijiangaodishisantiaozhichu,qiyezaishibiekechixufengxian、jiyuheyingxiang,quedingjiazhilianfanwei,bianzhikechixufengxianhuozhejiyuyuqicaiwuyingxiangdexinxi,yijikechixuyingxiangdexinxishi,“yingdangcaiyongyuqijineng、nengliheziyuanxiangchengdefangfa,shiyongbaogaoriheliqieyouyijudexinxi(gaixinxiwuxufuchuguoduchengbenhuozhenulijikehuode)。”yeshizhiyinqiyexunxujianjin,zhubuwanshan。

四、全球可持续信息披露目前有何趋势?如何理解这种趋势?

congquanqiukechixuxinxipilukuangjialaikan,shiyichenzhichu,jinguanmuqiangri(quanqiubaogaochangyi)yuanzezaiesgbaogaozhongzhanjuzhudaodiwei,danissbkenenghuigaibianzheiyijumian,“grizhuyaoguanzhukechixufazhanhehuanjingyiti,erissbzegengcezhongyuweitouzizhehejinrongjigoutigongxinxi,bangzhutouzizhelijieqiyedehuanjingheshehuizerenhuodongduicaiwudeyingxiang。”

issbdebaogaoluojiguliqiyejinxingqingjingfenxiheyaliceshi,yijiangqihoufengxianzhuanhuaweicaiwufengxian,tongshiissbbuyuanyifangqiqiyefanweisan(jiazhilianpaifang)dexinxipilu,zheiduiyutouzizhelaishuozhiguanzhongyao。“youqishijinrongjigou,tamendetouzizuhezhongdepaifangzhuyaolaizitamentouziheshouxindezhuti。”shiyichenbiaoshi,agusandajiaoyisuozaizhidingesgbiaozhunshi,huitongshicankaogriheissb,danfuzezhidinghuijizhunzedecaizhengbugengzhongshiyuissbdejiegui,tongshiwoguozaizhidingbiaozhunshiyehuijiarujuyouzhongguotesedeyiti,rufupinhexiangcunzhenxing,yitixianxinxingguojiadexuqiu。

zaishijianjiezoushang,shiyichenzhichu,anzhaozhongguo2030nianqiantandafeng、2060nianqianshixiantanzhonghedeshuangtanmubiao,kenenghuichutaibiguojigengxizhidecaozuoxize,yitigaoqiyedeesgpingguhepingji。

五、ESG信息披露将提高市场信息透明度,这对A股市场建设和投资决策有何影响?

caiwuxinxizhiwaidexinxipilu,youzhuyuzengqiangshichangtoumingdu,bangzhutouzizhejuece。wangshulingqiangdiao,qiyeshixinxipiludezhuti,xinxitoumingdushiduiqiyejinxingesgpingjidejichu,pingjizhiliangtishengzeyouzhuyutouzijuece,congeryindaozibenliuxiangesgbiaoxianhaodeqiye,guliqiyetishengesgzhili,xingchengzhengxiangxunhuan。

shangdaozixunshouxizhuanjiaguopeiyuanrenwei,esgxinxipilushiduichuantongcaiwuxinxipiludebuchong。congshichangjianshehetouzirenjiaodulaishuo,youzhuyupingpangongsidezhenzhengdejiazhi,jiehecaiwubiaoxianhefeicaiwubiaoxianlaiwanzhengpanduan,youliyushichangjigongsiyigegenghelideguzhi。

shiyichentidao,agushixingzhucezhiyijisandajiaoyisuofabukechixufazhanbaogaozhiyin,liangzhegongtongdequshishiduiqiyexinxipiluyaoqiuzengqiang,zheiyeyujianguanjigouyanchashangshigongsi、yankongjinrongfengxian,yijigaozhiliangfazhandedaoxiangyouguan。

lingwai,xinxipiludezhiliangjiangyingxiangqiyedetourongzijueceheguzhi。2022nian6yue1riqishixingde《yinxingyebaoxianyelvsejinrongzhiyin》,yaoqiuyinxingbaoxianjigoucongzhanlvegaodutuijinlvsejinrong,jiadaduilvse、ditan、xunhuanjingjidezhichi。“yinxingshouxindeyijujiangzaixinyongfengxianpingguwai,xinzenghuanjing、shehuidefengxianpinggu。yincixinxipiluzhiliangyingxiangqiyederongzichengbenheguzhi。”shiyichenshuo,weilaiqidaisanhutouzizheyenengguanzhuqiyeesgbiaoxian,shishichangtuidongesggengweijiankang、kechixudifazhan。

六、企业应该如何理解这些政策?如何有效、务实地进行准备和规划,以适应可持续信息披露要求?

guanyuqiyedexinpizhunbei,wangshulingqiangdiaoqiyexinxipingtaijianshedezhongyaoxing。caizhengbuzhengqiuyijiangaodibatiaotidao,qiyeyingdangjianlijianquanyukechixuxinxipiluxiangguandeshujushouji、yanzheng、fenxi、liyonghebaogaodengxitong,wanshankechixuxinxipiludeneibukongzhi,quebaokechixuxinxipiludezhiliang。

“youqidaxingqiye,youyufuzadezuzhijiagouheguangfandeyewufugai,shougongshoujixinxirichangkunnan,yinciyaozaozuozhunbeibangzhutishengxiaolvhezhiliang。”tahaiqiangdiao,qiyexuyaoyouxiaodishoujixinxi,jiangqiyucaiwuyingxiangxianglianxi,zheiduiyuxinxipiluzhiguanzhongyao。

ciwai,shujudekebixinghechixuxingyeshicaizhengbuduipiluzhiliangdeyaoqiu,qiyexuyaoquebaopiludeshujubujinbaokuodangnian,haiyaoyuguoqujiniandeshujujinxingbijiaohetongbupilu,zheiduiqiyelaishuojuyouyidingnandu。tajianyi,qiyezaiguoduqineikezaiyouxiandepilufanweineicaozuo,zhubudadaojianguanyaoqiudepilufanwei。

erqiyesuochudebutongxingye、butongfazhanjieduanyeyingxiangqiesgzhilihexinxipiludejuece。

“qiyezaishishiesgshidezuijiatourudiangebuxiangtong,zheiqujueyuxingyechayi、qiyeguimoheshengmingzhouqidengyinsu。qiyekeshouxianlejieesgzhiliruheyuzishenjingjizhuangkuang、yewuzengzhang、shengchanhetouzixiaolv、waibuzhengceyaoqiuxiangjiehe。zhaodaoyuqiyefazhandejiehedian,jiangbangzhuqiyekandaoesgduiyunyingchanshengdezhengmianjixiao,tigaogongsizaiesgzhiliyuxinpizhongdecanyudu。”shiyichenbuchongdao。tongshiesgzhiliyinggaiyoushangzhixia,xuyaodingcengsheji。

“birugaoguanxinchouyuesgjixiaoguagou。”shiyichenshuo,esgdejixiaokaoheshedingyingyuqiyeyunyingheguanlijiehe,zuizhongyucaiwubaogaoxiangguanlian,bimianqichengweidanchundechengbenxiang,eryingrongrugongsizhanlve,bangzhujiangbenzengxiao,huoshizhaodaoxindezengzhangjiyu。

未经正式授权严禁转载本文,侵权必究。

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中国可持续信息披露要求走向融合统一,企业如何应对?

qiyeyinggairuhelijiezheixiezhengce?ruheyouxiao、wushidijinxingzhunbeiheguihua,yishiyingkechixuxinxipiluyaoqiu?

来源:视觉中国

5yue27ri,caizhengbufabu《qiyekechixupiluzhunze——jibenzhunze(zhengqiuyijiangao)》(yixiajiancheng“zhengqiuyijiangao”),mianxiangsuoyouqiyetigongkechixuxinxipilubiaozhuncanzhao。caizhengbuchutaideqiyekechixupiluzhunze,yiweizhewoguokechixuxinxipilukaiqilecongzhengcezhiyindaoluodidejieduan,bingqiekechixuxinxipiluyaoqiuzhengzouxiangtongyi。

gaizhengqiuyijiangaotoululejidaguanjianxinxi:

yishidingweigao。zhengqiuyijiangaoyoucaizhengbuhuitongwaijiaobu、guojiafazhangaigewei、gongyehexinxihuabu、shengtaihuanjingbu、shangwubu、zhongguorenminyinxing、guowuyuanguoziwei、jinrongjianguanzongju、zhongguozhengjianhuigong9bumenchenglikuabumengongzuozhuanban,yiguojizhunzeweijichu,zhidingtixianguojizhunzeyouyijingyan、fuhezhongguoguoqingqienengzhangxianzhongguotesedeguojiatongyidekechixupiluzhunze。

ershishiyongfanweiguang。zhengqiuyijiangaoshiyongyuzaizhonghuarenmingongheguojingneishelideanguidingkaizhankechixuxinxipiludeqiye。xiangbisandajiaoyisuomianxiangshangshigongsichutaide《shangshigongsikechixufazhanbaogaozhiyin》shiyongfanweigengguang。

sanshiyuguojikuangjiajiegui,tongshitixianzhongguotese。caizhengbuzuoweiyinruissb(guojikechixuzhunzelishihui)zhunzedebumen,cicifabudezhengqiuyijiangaozhongduiqiyexinxipiluzhiliangdeyaoqiu,yijipiludesiyaosukuangjia, yuissbfabudeifrs s1yizhi。

issbyouguojicaiwubaogaozhunzejijinhuizai2020nianlianheguoqihoubianhuadahuishangchengli,bingzai2023nian6yuefabuleifrs s1《kechixufazhanxiangguancaiwuxinxipiludeyibanyaoqiu》heifrs s2《qihouxiangguanxinxipilu》。erissbdepilukuangjiajiangbeixinjiapo、riben、hanguo、aodaliyadengyuelaiyueduoguojiacaiyong。

zhengqiuyijiangaoduipiluxinxizhiliangdeyaoqiumiaoshuwei:kekaoxing(xinxiwanzheng、zhongli、zhunque)、xiangguanxing(youzhuyuxinxishiyongzhejuece)、kebixing(qiyebutongshiqi、tongxingyebutongqiye)、keyanzhengxing、kelijiexing、jishixing。zheidianyuissbdeifrs s1duixinxizhiliangdeyaoqiujibenyizhi。

siyaosukuangjiashiqiyekechixuxinxipiludehexincaozuokuangjia,baohan“zhili、zhanlve、fengxianhejiyuguanli、zhibiaohemubiao”。zheiyidian,caizhengbudezhengqiuyijiangao、agukechixufazhanzhiyin,douyuissbbaochileyizhi。

erzai“shuangzhongshizhixing”yuanzeshang,caizhengbudezhengqiuyijiangaoyanxuleguojishanggengchuantongdegri(1997nianchenglidequanqiubaogaochangyizuzhi)kechixupilubiaozhun。“shuangzhongshizhixing”zhitongshikaolvwaibuliyixiangguanfangduiqiyedeyingxiangheqiyeduiwaibudeyingxiang。ruzhengqiuyijiangaoqicaoshuomingzhongzhichu,“jiyuzhongyaoxingyuanze,jikaolvlekechixufengxianhejiyushifouduiqiyezaochengzhongyaodedangqihuoyuqicaiwuyingxiang,youjianguleqiyehuodongshifouduijingji、shehuihehuanjingchanshengzhongyaodeyingxiang。”

tongshizhengqiuyijiangaojiyuwoguoshijizuochuguiding,birujieheguoqingyushijizhidingdepilujindu、shiyongfanwei、huanchongtiaojian,yijijiang“xiangcunzhenxing”yitinarushehuifangmiandepiluzhutideng。

shangdaozixunshouxizhuanjiaguopeiyuanduijiemianzhikufenxidao,muqianquanqiukechixuxinxipiludequshizhengzaiqianghua,bingqiechengxianchu“qiangzhihua”。“tebieshiduishangshigongsi,buguanshifouyuanyipilu,shangshigongsihedaxingqiyehuishoudangqichong。qici,balixiedingyihou,quanshijieyizhiguanzhuqihoubianhua,qihouxiangguandexinxipilubeinarukechixuxinxipilukuangjiadequshi,zaiquanqiushiyizhide。”guopeiyuanzhichu,muqianguojishangdekechixuxinxipilubiaozhunxingchengsanzudinglidequshi,fenbieshiissb、griyijioumengdekechixufazhanbaogaozhunzeesrs。

“muqianzheixiebiaozhundouzaixunqiuxingchengxietong,zengqianghucaozuoxing。”guopeiyuanbiaoshi,“biaozhuntaiduo,duiqiyezaochengfudan,suoyiyingjinliangqutong。”ciwai,chuleqihoubianhua,shengwuduoyangxingheziranxiangguandexinxipilu,yezaishoudaoyuelaiyueduodeguanzhu,jiangchengweiweilaikechixuxinxipiludeyigezhongyaofangxiang。

5yue28ri,issbguanfangzhongwengongzhonghaofawencheng,quanqiubaogaochangyizuzhi(gri)yuguojicaiwubaogaozhunzejijinhuihezuokaizhanquanmianhucaozuo,yishixiankechixubaogaowufengxianjie,yetixianleguojibiaozhunxiangronghedequshi。

sishizhengqiuyijiangaozhidinglekechixuxinxipiludeluxiantu。anzhaozhengqiuyijiangaojiqiqicaoshuoming,qiyekechixupiluzhunzebaokuojibenzhunze、jutizhunzeheyingyongzhinan,cicifabudezhengqiuyijiangaoshijibenzhunze,shiduiqiyekechixuxinxipilude“yibanyaoqiu”,yidingxingneirongjuduo,weilaihaihuichutaijutizhunzeheyingyongzhinan(xihuadaoxingye)。

ciwai,cicifabudejibenzhunzezhengqiuyijiangaoshiyizhongxuangao,weilaishishiluodideshijiananpai,shi“dao2027nian,woguoqiyekechixupilujibenzhunze、qihouxiangguanpiluzhunzexiangjichutai”,“dao2030nian,guojiatongyidekechixupiluzhunzetixijibenjiancheng”。

jinnianyilai,woguokechixuxinxipilu、esg(huanjing、shehuijigongsizhili)xiangguanzhengcemijichutai。

jinnian2yue,shangjiaosuo、shenjiaosuo、beijiaosuotongshifabu《shangshigongsizilvjianguanzhiyin--kechixufazhanbaogao(shixing)(zhengqiuyijiangao)》,jinnian5yue1rishishi。shoupiqiangzhipiludeqiye(jutongjiyou548jia)zuiwanzai2026nianfabu2025niandekechixufazhanbaogao。

jinnian3yue,shanghai、beijing、suzhouxiangjigongkaidifangcengmiandeesgxingdongjihua。jinnian4yue,renminyinxinglianheguojiafazhangaigeweidengqibumenlianhefabude《guanyujinyibuqianghuajinrongzhichilvseditanfazhandezhidaoyijian》,shoucimingquejiangesgnaruxinyongpingji。

6yue4ri,guowuyuanguoziweifabu《guanyuxinshidaizhongyangqiyegaobiaozhunlvxingshehuizerendezhidaoyijian》,tichu“jiangesggongzuonarushehuizerengongzuotongchouguanli,jijibawo、yingduiesgfazhandailaidejiyuhetiaozhan”,“tuidongkonggushangshigongsiweiraoesgyitigaobiaozhunluoshihuanjingguanliyaoqiu、jijilvxingshehuizeren、jianquanwanshangongsizhili,jiaqianggaoshuipingesgxinxipilu,buduantigaoesgzhilinenglihejixiaoshuiping,zengqiangzaizibenshichangdejiazhirentong。”

guopeiyuanduimijichutaideguoneiesgxiangguanzhengcejinxinglefenlei。“yileishiesghelvsejinronglingyudetongyongzhengce,zhulifazhanlvsejinrong、cujinditanzhuanxing;dierleishiguanyuxinxipiludezhengce,biruzhengjianhuibushu、sandajiaoyisuofabudekechixufazhanbaogaozhiyin,hecaizhengbucicidezhengqiuyijiangao;disanleishidifangdeesgxingdongfangan,zheishibijiaoyouzhongguotesedeyileizhengce。zongtilaikan,zhengcedemijichutaishiwomenyouxunijingjixiangshitijingjituidongesgdebiaoxian。”

zheixiezhengcekuangjiaduiyushichangjianshe、qiyefazhanyouhezhidaoyiyi?ruhelijiexiangguanpiluzhengcedeyaoqiu,qiyegaizuohezhunbei?jiemianzhikujinqicaifanglezhongcailvjinyuanfuyuanzhang、jiaoshou,zhongcailvzhishouxijingjixuejiashiyichen、zhongchengxinlvjinesgjiejuefanganbufuzongjianwangshuling、cdpquanqiulianxipiluzongjianlifei、shangdaozixunshouxizhuanjiaguopeiyuan,duixiashuliugewentijinxinglejieda。

一、财政部发布的《企业可持续披露准则——基本准则(征求意见稿)》,和三大交易所今年5月1日实施的可持续发展报告指引,意义有何不同?

caizhengbuzhengqiuyijiangaodechutai,shizhongguoduiguojidexuanshi,biaodawoguocanyuguojikechixuxinxipiludejijixiangyingtaidu。shiyichenzhichu,caizhengbuzaozaisannianqianjiuchenglilegongzuoxiaozu,zhuanmenzhenduiissbjiangyaofabudezhunzejinxingshenruyanjiu。caizhengbuzuoweihuijizhunzedeqiantoujianguanbumen,qiduiissbzhunzedecainaheronghe,bujintishenglekechixuxinxipiluzhengcedeweijie,gengyiweizhesuoyouqiyezhutidoujiangshoudaoqiyueshu。

“zheibujinshiduishangshigongsideyaoqiu,gengshiduisuoyouqiyezhutidepubianyaoqiu,congerjidadikuozhanleissbzhunzedeyingxiangli。”shiyichentidao,caizhengbuzhengqiuyijiangaodezhuyaokuangjianeirongyuissbdazhifuhe,danyerongrulezhongguotesedeyuansu,zheitixianlezhongguozaijiejianguojijingyandetongshi,bushizishenzhutixing。

wangshulingrenwei,zheishiguojiacengmianduiesgwentideshoucitongyifasheng。“jinguanqiyeduiesgzhongyaoxingderenshizaizhubutigao,danyouyuquefajianguan,xuduoqiyeduiyushifoucaiquxingdong,rengranyouyubujue。ercaizhengbuwenjiandechutai,jiangyouzhuyuqiyegenghaodirenshidaoesgguanlidezhongyaoxinghezuoyong。”

wangshulinghaitidao,caizhengbuzhengqiuyijiangaozhongduiqiyeesgguanlidegongzuotigonglezhiyin,tebieshiqiyexinxixitongjianshe,shiqiyetishengguanlihekechixuxinpisuoxudebiyaozhunbeigongzuo。

ciwai,shiyichenzhichu,zhengqiuyijiangaoweiqiyekechixuxinxipilutigonglejiaozhanghuanchongqi,“dao2030nian,guojiatongyidekechixupiluzhunzetixijibenjiancheng”deshijiananpai,yu2030nianzhongguoshixiantandafengdemubiaoxiangyizhi,“weiqiyetigonglechongzudeshijianlaishiyinghezhunbei”。

二、过去几年我国企业ESG信息披露/可持续信息披露程度有怎样的进展?最新的披露比率、披露质量如何?

woguokechixuxinpizhengcedejinduheqiangdushifouheliwushi,keyicongzhongguoqiyemuqiandekechixuxinxipilushuipinglaipanduan。conghuanjinghetanpaifangxinxidepilukan,guojihuanjingxinxipilujigoucdpdezuixindiaoyanshujuxianshi,zhongguoqiyedepilushuliangzengzhangxunsu。

lifeibiaoshi,qunianquanqiutongguocdppingtaijinxinghuanjingxinxipiludeqiyechaoguo23,000jia,tongbizengzhang25%,erzhongguoqiyedezengzhanglvdadao26%。yuwunianqianxiangbi,zhongguoqiyedepilushuliangzengzhanglewubei。

qizhong,zhongguoqiyezaiqihouzhilifangmiandebiaoxianyouweituchu。jutongji,qunian77%decanyucdpbaogaotianxiedezhongguoqiyetidao,qiyeneibuyoudongshihuigaocengjieruqihouxiangguanyitidezhiligongzuo,zheiyibiligaoyuquanqiupingjunshuiping。ciwai,72%dezhongguoqiyeyijingkaishizhidingqihoufengxianhejiyushibiedepingguliucheng。zhongguoqiyemuqianzuiguanzhudeqiansandaqihoufengxianleixingfenbieshijixingwulifengxian、shichangxiangguanfengxianhexinxingfaguifengxian,zheifanyingchujiduantianqikenengyijingduizhongguoqiyedeyewuyunyingdailaiyingxiang,zhongguoqiyeduiwaibushichanghejianguanbianhuayuelaiyuemingan。

zaiwenshiqitipaifanghesuanfangmian,lifeizhichu,78%dezhongguoqiyepilulefanweiyipaifang(qiyezhijiepaifang),chaoguoquanqiupingjunshuiping72%;62%dezhongguoqiyepilulefanweierpaifang(jianjiepaifang),yuquanqiupiluchiping。ciwai,tahaitidao,39%dezhongguoqiyeyijingkaishixiangcdpbaogaofanweisan(jiazhilianpaifang)depaifangshuju,gaibililvediyuquanqiupingjunshuiping(42%),yishangfenxibiaomingzhongguoqiyeyijingjubeitanhesuannengli,bingzhangwozishenpaifanghuodongxiangguanshuju。

wangshulingfenxianglezhongchengxinlvjinzuixindediaoyan,baogaodui2026nianbixupiluesgbaogaode454jiazhongguoyangbenshangshigongsi(biqitakoujingtongjide458jiashao4jia)deesgbiaoxianjinxingfenxi。tazhichu,zheixieqiyezhongyou91%yijingshixianlepilu,biliyuangaoyushichangpingjunshuiping,erzaipingjifangmian,zheixieqiyezhuyaofenbuzaiaji,zhanbichaoguo50%,erbbbheaajibiedeqiyezhanbifenbiewei29.96%he7.49%。shuomingagushoupiqiangzhipilukechixubaogaodeqiye,yijingzaiesgfangmianyousuochendian,zhengzaiyinlingxingyefazhan。

中诚信绿金报告,基于三大交易所强制披露样本企业2024年ESG信息披露与评级表现
中诚信绿金报告,基于三大交易所强制披露样本企业2024年ESG信息披露与评级表现

 shiyichenbuchongdao,juzhongcailvjinyuantuanduishuli,jinnianagushangshigongsidepilulvyijingdadao39%,xiangbiqunian33.2%heqiannianbudaosanchengdepilubili,youlexianzhutisheng。“suizhesandajiaoyisuodezhengcetuidong,yujimingniandepilulvyouwangtupo50%。”shiyichenhaitidao,zhongguoqiyezaiesgpingjifangmianyezaijinbu,youqishizaihuanjingweidu,“ciwai,xuduoqiyeyijingkaishizhongshishengwuduoyangxing,zheishiyigejijidequshi”。

三、财政部和三大交易所的指引,距离落地还有多远?

zaishangshigongsicengmian,wangshulingrenwei,jinguansandajiaoyisuodeqiangzhixingpiluyaoqiujiangzai2026nianshishi,danguliweilailiangnianqiyetiqianzuohaozhunbei。yinweisuizheweilaipiluyaoqiutigao,xuyaoqiyetiqianjinxingdinglianghedingxingneirongdezhunbei,baokuodicengshujushouji、zuzhijiagoudezhunbei。

wangshulinghaitidao,caizhengbudewenjianzuoweijibenzhunze,houxuhaihuiyougengjutidexizehezhinanfabu,erzaiguoduqinei,gexingyekeyixianzhidingzijidepilubiaozhun,ranhouzaigenjucaizhengbudejutiyaoqiujinxingtongyixiuzheng,“zheiyiguochengxuyaoshijian,shejidexingyezhongduo,xuyaozhuguanbumen、xingyexiehuidengjigoulaixiezuotuijin”。

shiyichenrenwei,qiyeluodizhengcedesudukenengbimubiaoshijiangengkuai。“lianjiaosuoyijingyaoqiumingniana+hgubixushiyongissbjiagoupiluxinxi,zheibiaomingesgxinxipiluzhengzaiguifanhuaheqiangzhihua。mingnianaguhenyoukenengba458jiadeqiangzhipilufanweijinyibukuoda。tongshiyehuiyougengduoshangshigongsianzhaoissbdekuangjiajinxingpilu。”tatongshiqiangdiaopiluzhiliangdezhongyaoxing。suizhejianguanduishujudeyanjinxinggengweizhongshi,disanfangjianzhengjiangbiandeyuelaiyuezhongyao,jiangxuyaojiaqiangjianguan,jianshaoshujuzaojiafengxian,

lifeitichu,zongheguoneiguojijianguanpiluyaoqiu,2026niankenengchengweiquanqiujizhongguoqiyebaogaokechixuxiangguanxinxideyigezhongyaoshijiandianhepiluliangjizengnianfen。ciwai,zonglanquanqiu,“qiangzhixingkechixuxiangguanxinxipiludezhuliuhuajinchengzhengzaijiasu。piluzhutibuzaijinxianyudaxingshangshigongsi,narujianguanyaoqiudepilufanweiqiye,yijingkaishixianggongyinglianshangyouhuozhongxiaoqiyezhuanyi”。

ciwaixuyaozhuyizhengceluodiguochengzhongde“lianglierxing”。jibenzhunzezhengqiuyijiangaodishisantiaozhichu,qiyezaishibiekechixufengxian、jiyuheyingxiang,quedingjiazhilianfanwei,bianzhikechixufengxianhuozhejiyuyuqicaiwuyingxiangdexinxi,yijikechixuyingxiangdexinxishi,“yingdangcaiyongyuqijineng、nengliheziyuanxiangchengdefangfa,shiyongbaogaoriheliqieyouyijudexinxi(gaixinxiwuxufuchuguoduchengbenhuozhenulijikehuode)。”yeshizhiyinqiyexunxujianjin,zhubuwanshan。

四、全球可持续信息披露目前有何趋势?如何理解这种趋势?

congquanqiukechixuxinxipilukuangjialaikan,shiyichenzhichu,jinguanmuqiangri(quanqiubaogaochangyi)yuanzezaiesgbaogaozhongzhanjuzhudaodiwei,danissbkenenghuigaibianzheiyijumian,“grizhuyaoguanzhukechixufazhanhehuanjingyiti,erissbzegengcezhongyuweitouzizhehejinrongjigoutigongxinxi,bangzhutouzizhelijieqiyedehuanjingheshehuizerenhuodongduicaiwudeyingxiang。”

issbdebaogaoluojiguliqiyejinxingqingjingfenxiheyaliceshi,yijiangqihoufengxianzhuanhuaweicaiwufengxian,tongshiissbbuyuanyifangqiqiyefanweisan(jiazhilianpaifang)dexinxipilu,zheiduiyutouzizhelaishuozhiguanzhongyao。“youqishijinrongjigou,tamendetouzizuhezhongdepaifangzhuyaolaizitamentouziheshouxindezhuti。”shiyichenbiaoshi,agusandajiaoyisuozaizhidingesgbiaozhunshi,huitongshicankaogriheissb,danfuzezhidinghuijizhunzedecaizhengbugengzhongshiyuissbdejiegui,tongshiwoguozaizhidingbiaozhunshiyehuijiarujuyouzhongguotesedeyiti,rufupinhexiangcunzhenxing,yitixianxinxingguojiadexuqiu。

zaishijianjiezoushang,shiyichenzhichu,anzhaozhongguo2030nianqiantandafeng、2060nianqianshixiantanzhonghedeshuangtanmubiao,kenenghuichutaibiguojigengxizhidecaozuoxize,yitigaoqiyedeesgpingguhepingji。

五、ESG信息披露将提高市场信息透明度,这对A股市场建设和投资决策有何影响?

caiwuxinxizhiwaidexinxipilu,youzhuyuzengqiangshichangtoumingdu,bangzhutouzizhejuece。wangshulingqiangdiao,qiyeshixinxipiludezhuti,xinxitoumingdushiduiqiyejinxingesgpingjidejichu,pingjizhiliangtishengzeyouzhuyutouzijuece,congeryindaozibenliuxiangesgbiaoxianhaodeqiye,guliqiyetishengesgzhili,xingchengzhengxiangxunhuan。

shangdaozixunshouxizhuanjiaguopeiyuanrenwei,esgxinxipilushiduichuantongcaiwuxinxipiludebuchong。congshichangjianshehetouzirenjiaodulaishuo,youzhuyupingpangongsidezhenzhengdejiazhi,jiehecaiwubiaoxianhefeicaiwubiaoxianlaiwanzhengpanduan,youliyushichangjigongsiyigegenghelideguzhi。

shiyichentidao,agushixingzhucezhiyijisandajiaoyisuofabukechixufazhanbaogaozhiyin,liangzhegongtongdequshishiduiqiyexinxipiluyaoqiuzengqiang,zheiyeyujianguanjigouyanchashangshigongsi、yankongjinrongfengxian,yijigaozhiliangfazhandedaoxiangyouguan。

lingwai,xinxipiludezhiliangjiangyingxiangqiyedetourongzijueceheguzhi。2022nian6yue1riqishixingde《yinxingyebaoxianyelvsejinrongzhiyin》,yaoqiuyinxingbaoxianjigoucongzhanlvegaodutuijinlvsejinrong,jiadaduilvse、ditan、xunhuanjingjidezhichi。“yinxingshouxindeyijujiangzaixinyongfengxianpingguwai,xinzenghuanjing、shehuidefengxianpinggu。yincixinxipiluzhiliangyingxiangqiyederongzichengbenheguzhi。”shiyichenshuo,weilaiqidaisanhutouzizheyenengguanzhuqiyeesgbiaoxian,shishichangtuidongesggengweijiankang、kechixudifazhan。

六、企业应该如何理解这些政策?如何有效、务实地进行准备和规划,以适应可持续信息披露要求?

guanyuqiyedexinpizhunbei,wangshulingqiangdiaoqiyexinxipingtaijianshedezhongyaoxing。caizhengbuzhengqiuyijiangaodibatiaotidao,qiyeyingdangjianlijianquanyukechixuxinxipiluxiangguandeshujushouji、yanzheng、fenxi、liyonghebaogaodengxitong,wanshankechixuxinxipiludeneibukongzhi,quebaokechixuxinxipiludezhiliang。

“youqidaxingqiye,youyufuzadezuzhijiagouheguangfandeyewufugai,shougongshoujixinxirichangkunnan,yinciyaozaozuozhunbeibangzhutishengxiaolvhezhiliang。”tahaiqiangdiao,qiyexuyaoyouxiaodishoujixinxi,jiangqiyucaiwuyingxiangxianglianxi,zheiduiyuxinxipiluzhiguanzhongyao。

ciwai,shujudekebixinghechixuxingyeshicaizhengbuduipiluzhiliangdeyaoqiu,qiyexuyaoquebaopiludeshujubujinbaokuodangnian,haiyaoyuguoqujiniandeshujujinxingbijiaohetongbupilu,zheiduiqiyelaishuojuyouyidingnandu。tajianyi,qiyezaiguoduqineikezaiyouxiandepilufanweineicaozuo,zhubudadaojianguanyaoqiudepilufanwei。

erqiyesuochudebutongxingye、butongfazhanjieduanyeyingxiangqiesgzhilihexinxipiludejuece。

“qiyezaishishiesgshidezuijiatourudiangebuxiangtong,zheiqujueyuxingyechayi、qiyeguimoheshengmingzhouqidengyinsu。qiyekeshouxianlejieesgzhiliruheyuzishenjingjizhuangkuang、yewuzengzhang、shengchanhetouzixiaolv、waibuzhengceyaoqiuxiangjiehe。zhaodaoyuqiyefazhandejiehedian,jiangbangzhuqiyekandaoesgduiyunyingchanshengdezhengmianjixiao,tigaogongsizaiesgzhiliyuxinpizhongdecanyudu。”shiyichenbuchongdao。tongshiesgzhiliyinggaiyoushangzhixia,xuyaodingcengsheji。

“birugaoguanxinchouyuesgjixiaoguagou。”shiyichenshuo,esgdejixiaokaoheshedingyingyuqiyeyunyingheguanlijiehe,zuizhongyucaiwubaogaoxiangguanlian,bimianqichengweidanchundechengbenxiang,eryingrongrugongsizhanlve,bangzhujiangbenzengxiao,huoshizhaodaoxindezengzhangjiyu。

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