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China Corporate Social Responsibility Law. It suggests that companies should do more than they are. The concept of corporate social responsibility CSR in China. Article 5 In its operational activities a company shall abide by laws and administrative regulations observe social morals and commercial ethics persist in honesty and good faith accept supervision by the government and the public and assume social responsibility. ICLG - Corporate Governance Laws and Regulations - China covers common issues in corporate governance laws and regulations including in management bodies shareholders other stakeholders transparency reporting and corporate social responsibility in 29 jurisdictions.
Corporate Social Responsibility in China 1 risk mitigationcompliance Creating a firm that is more family nucleus than profit center and that looks at itself as part of a wider community when building the organization firms who are able to effectively create a strategy that is engaging to all stakeholders and effect real change. Corporate Social Responsibility in China. The provision of corporate social responsibility. China is probably the first country in the world that expressly writes the phrase of corporate social responsibility into its corporate statute. Corporate social responsibility CSR has become prominent in Chinese political academic and economics forums as Chinas economy has grown more integrated into the worldwide economic market and Chinese citizens have become more aware of the need for socially responsible business practices. In 1993 when the Company Law of the Peoples Republic of China the 1994 Company Law was first promulgated the term corporate social responsibility was not explicitly mentioned but the concept of CSR was indirectly embedded in this law12 Article 14 of the 1994 Company Law.
Chinas recent economic transformation and integration into the world economy has coincided with increasing pressure for corporate law reform to make corporate social responsibility CSR integral to business and management strategy in China.
It further examines some existing problems and CSR incidents in China and analyses the relevant legal regulations. A Corporate Governance Approach. It shall act in good faith accept the supervision of the government and the general public and bear social responsibilities. Chinas 2006 Company Law provides that in the course of doing business a company shall comply with laws and administrative regulations conform to social morality and business ethics act in good faith subject itself to the government and the public supervision and undertake social responsibility. The company wants to satisfy the expectations of its customers employees suppliers and the party-state. J Bus Ethics 136 7387 2016.