China’s fast developing economy causes environmental and other problems, which leads more and more enterprises to take CSR into account and see making ‘green’ products as a trend. In the near future, CSR surely will be one important part of the development of each industry and be compatible with China’s developing economy.
Recent years, while China continues to maintain economic growth of nearly 10%, structural adjustment issues such as the gap between the rich and the poor, energy problems, regional disparities in economic growth and environmental problems are becoming increasingly serious. The government of China is aiming for sustainable economic growth under the policy guidelines of the ‘Scientific Development Perspective’, which is the reflection of CSR.
Moreover, in China, while legislation pertaining to areas relevant to CSR, such as labor, environmental protection and social welfare, is in place, there are many problems with compliance, such as difficulty with enforcement, frequent changes to the content of laws and regulations, and interpretation of laws being left up to regional governments.
As solving those problems will strengthen corporations’ international competitiveness, achieve sustainable economic growth and increase corporate value, every company as well as the Chinese government is taking a proactive position on the issue of CSR. Thus, it is sure that CSR will compatible with China’s developing economy.
2 Other instances of CSR in China.
Take China Mobile Communication Corporation (CMCC) as another example of the discharge of CSR besides China’s Capital Steel. As we know, telecommunication industry can also bring environmental problem, such as the radiation of the communication station and large amounts of discarded cell phones. The environmental protection methods of CMCC mainly are based on technology to reduce possible negative impact to the environment due to their own business