70% of China's top companies shirk corporate responsibility

13:48, November 05, 2010      

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More than 70 percent of China's top corporations do not engage in corporate social responsibility, according to a recent report by the Chinese Academy of Social Sciences (CAS).

The CAS released "The Blue Book of Corporate Social Responsibility: Research Report on Corporate Social Responsibility of China(2010)," and according to the report, the overall index of China's corporate social responsibility lags behinds the world average.

There were 300 companies that participated in the evaluation, and only China Ocean Shipping Group Company (COSCO) scored 80 points, putting it into the "excellent" category.

There were 13 enterprises awarded the "leader" level. There were 218 corporations that scored below 20 points, which means they are regarded as "bystanders." These enterprises have management systems that are incomplete, they lack transparency and do not engage in socially responsible business practices.

The report pointed out that there exist clear differences between 33 industries in terms of the development index of social responsibility. The index of the power supply industry reached 73 points, which was significantly higher than other industries. In the power production industry, communication services, banking and other industries, scores averaged between 40 points and 60 points, which signifies the "developing" level.

The insurance industry, real estate development, building industry, mining and processing oil and gas industry and other six industries, averaged scores between 20 points and 40 points, which placed them at the "infancy" level. The rest of the industries averaged scores below 20 points, which is the 'bystanders' stage.

By Zhang Qian, People's Daily Online


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