Corporate Social Responsibility in Contemporary China

Corporate Social Responsibility in Contemporary China

Corporations, Globalisation and the Law series

Jingchen Zhao

China’s 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. This timely book critically analyses contemporary notions of CSR in China, discussing theory and practice alongside legal responses in this emerging field.

Chapter 9: Conclusion and the future of corporate social responsibility in China

Jingchen Zhao

Subjects: asian studies, asian law, business and management, corporate social responsibility, law - academic, asian law, corporate law and governance

Extract

This chapter provides some concluding remarks, and aims to bring together all the issues examined in the previous chapters of the book. Just as regards the debate surrounding corporate social responsibility (CSR) in general, the issue of CSR in China has gained significant recognition in the last two decades. While the damage caused by scandals such as Enron and WorldCom West-Watergate in the United States, and Rupert Murdoch and News International in the United Kingdom, have been well publicized, with a great deal of negative discussion and criticism and in some cases the introduction of corresponding legislation, codes of conduct and reports, it is likely that CSR abuses in China may be more widespread and tolerated to a greater degree, being less obvious and more part of the ënormalí business scene. Public companies and multinational companies in China will face increasing challenges with regard to their CSR performance, and will be expected to demonstrate their competitiveness to address national priorities in China, including green development, livelihood improvement, outward development into the West and the integration of Chinese companies into the global market. It has been argued in the book, mainly in Chapter 2, that CSR in contemporary China has its historical and cultural roots in a country that has been profoundly influenced by Confucian philosophy. There is evidence of CSR practice and CSR-related legislation dating back to the Qing dynasty. Since that time, CSR has been adopted using different approaches at different historical periods in China.

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