World Finance

World Finance

August 21, 2013 06:24 ET

China: A Force for Responsible Business?

LONDON, ENGLAND--(Marketwired - Aug. 21, 2013) - There remains a lingering air of suspicion regarding China's capacity for responsible business. Scepticism is rife, particularly amongst Western sources, who largely perceive Chinese corporations to be acting irrespective of their employees' best interests and their wider responsibilities to the communities in which they operate. "However, to suggest that Chinese multinationals should simply emulate Western responsible business practices is wrong," writes Simon Richards in a new World Finance report looking at China's corporate responsibility.

Richards delves into the efforts of a great many Chinese corporations to demonstrate upstanding sustainable and responsible credentials and considers the cultural and governmental dimensions of corporate responsibility. "Confucianism, with its call to respect the family and society, is deeply rooted in the Chinese psyche. Its tenets might seem removed from CR/CSR but having an almost spiritual desire for a fairer community certainly helps a business - a collective of individuals - to act responsibly."

The World Finance article also considers the nation's capacity for global collaboration and the ways in which Chinese businesses can benefit from moving to the helm of corporate responsibility. "A great opportunity in responsibility lies ahead, with the potential for Chinese businesses to play a major part."

The article is available online at World Finance and is essential reading for those interested in the machinations of the 21st century global economy.

http://www.worldfinance.com/strategy/corporate-governance-strategy/china-a-force-for-good-in-responsible-business

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