The "Self-Regulatory Guidelines for Listed Companies – Preparation of Sustainability Reports (Draft for Comments)", as a supporting document to the "Self-Regulatory Rules for Listed Companies – Sustainability Reporting (Trial)", aims to guide China's A-share listed companies in enhancing their sustainability disclosure capabilities, improving the standardization of sustainability report preparation, and strengthening the completeness and relevance of sustainability-related information. The Rules and the Guidelines mark a new phase in sustainability information disclosure in China's capital market. However, IPE's comparative analysis reveals that there are still significant differences between these requirements and mainstream international ESG disclosure standards. This discrepancy may lead to duplicate disclosures and impose additional costs.