SHANGHAI: The Shanghai Stock Exchange on Thursday published rules to strengthen corporate bond disclosure as part of efforts to contain financial risks.

Accurate, adequate and timely disclosure helps investors better evaluate bonds, and facilitates efficient allocation of capital, the exchange said in a statement on its website.

China has stepped up efforts to improve transparency of its bond market, an increasingly important funding channel for companies at a time of rising defaults.

According to the newly published guidelines, bond issuers are required to make more detailed disclosure on their repayment ability.

Meanwhile, requirements on bond ratings have been scrapped for issuers. Such requirements had lead to inflated ratings.

The exchange said it is also urging companies to fulfill their disclosure obligations after defaults or during bankruptcy procedures, to protect investors' right to know.