Report shows Chinese enterprises going global responsibly

EY's report on Chinese enterprises' CSR performance along the Belt and Road was released in Beijing yesterday. [photo by Guo Xiaohong / China.org.cn]

Chinese enterprises investing in countries along the Belt and Road have addressed their corporation social responsibilities (CSR) by adopting measures to balance economic, environmental and social benefits since the Belt and Road Initiative (BRI) was launched five years ago, said a newly released report by EY, a global leader in assurance, tax, transaction and advisory services, in Beijing on September 21.

Along with market expansion, Chinese companies are effectively fulfilling their CSR mandate, said the report "Shared growth and collaboration over the five years on the Belt and Road: is China building a better world? "

The State Grid Corporation of China, for example, has long been protecting environment in constructing Belo Monte power transmission project in Brazil as the project covered a large area of a tropical rainforest with multiple natural and cultural reserves, said the report. 

The project team sought to conserve the local ecological balance and natural and human landscape by studying and implementing a protection plan for flora and fauna while observing and preserving the archaeological sites along the course.

In addition, over 90 percent of the project team is comprised of the local people, who are provided with skill training for their professional capabilities. 

Many other Chinese enterprises are also listed in the report for their endeavor in fulfilling the CSR, including China Communications Construction Co., Ltd. The construction of Mombasa-Nairobi Railway built by the company for Kenya created 46,000 new jobs and fostered local professionals with technical and management capabilities.

"BRI represents economic and investment opportunity but poses great uncertainty and latent risks as well," said Jared Liu, EY's TAS partner. "By fulfilling CSR, Chinese enterprises will gain acceptance from the local community, enhance their global competitiveness and reduce overseas investment risk."