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Chinese companies fulfill social responsibilities globally: report

Updated: Jul 14,2017 5:40 PM     Xinhua

BEIJING — Chinese enterprises operating overseas have devoted themselves to shouldering more social responsibility in their overseas investments, according to a report.

The report released on July 13 by the Center for China and Globalization (CCG) said many companies have risen to the idea of win-win cooperation with local communities, using company development strategies.

“In the construction of the Nairobi-Mombasa railway, we devoted ourself to environmental and wildlife protection,” said Wen Gang, vice president of China Communication Construction. “For example, we built passages tall enough for giraffes to migrate across the railway.”

Chinese enterprises have also gradually adopted localization in overseas operations.

Chinese HeSteel Group (HBIS), one of China’s biggest steel companies, regards overseas localization as an important concept.

“We believe that only by pursuing cultural localization, promoting local employment and sharing benefits with local communities, can we be successful in going global,” said Yu Yong, chairman of HBIS Group.

The overseas brand image and influence of Chinese enterprises have increased in recent years. Statistics from CCG show that 43 percent of 2,922 companies surveyed regard promoting brand influence as a major drive to go global.

Small and medium-sized private companies also participated in the overseas market, with a total investment volume of $154.9 billion in 395 cases in 2016, the report said.

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