Corporate Social Responsibility: China releases 2017 report on central enterprises
Under China's Belt and Road Initiative, Chinese enterprises are taking a leading role in carrying out their international strategy. A new report released by a think-tank and the government says companies are accepting more and more social responsibilities both at home and abroad. CGTN's Chuck Tinte has more.
According to a 2017 Blue Book, 84 percent of central enterprises formulated plans for developing Corporate Social Responsibilities. Nearly half have set up overseas social responsibility administration systems.
The Mombasa-Nairobi Railway, which went into operation on June first last year, is owned and operated by the China Road and Bridge Corporation. The 471-kilometer stretch is the first section of a planned East Africa railway network. The project employed 800 locals, provided specialized training to Kenyans, and cut the travel time from over ten hours to a little more than four.
ZHONG HONGWU, DIRECTOR CORPORATE SOCIAL RESPONSIBILITY CTR., CHINESE ACADEMY OF SOCIAL SCIENCES "Chinese enterprises have strictly adhered to the host country's environmental policies. Besides, they communicate with local media and the public actively, and release a Social Responsibility Report for transparent management."
But it hasn't been easy. The enterprises have found there's a steep learning curve in the process of going global. This includes understanding the laws, culture, and customs of the host country. Chuck Tinte, CGTN, Beijing.