Central SOEs urged to lead in social responsibility
(Xinhua)
Updated: 2008-01-09 17:02
Shortly after the State Grid released its sustainable development report last year, Yili Group, a private dairy maker, came up with its own report on social responsibility.
In a lengthy explanation on the directive posted on its official website, the SASAC said that SOEs must reflect the "State Will" to seriously implement the scientific development outlook proposed by the governing Communist Party of China for the "dominant and irreplaceable" roles they have played in securing national economic lifelines.
Since the establishment of the SASAC in 2003, these companies had registered an average annual rise of one trillion yuan in sales revenue by 2006. Their annual profits and taxation grew by 100 billion yuan.
Kudos should go to Sinopec and PetroChina who pledged to increase output and imports to ease domestic fuel shortages despite the refined oil products being far cheaper than imports, said the statement.
An earlier report said 14 central SOEs were organized by the Chinese government to offer about 1,000 jobs to new graduates by the end of 2008, particularly those from low-income families.
Calling the centrally-administered SOEs the "bellweathers" in leading local companies into global cooperation, the SASAC said a responsible image and the capability to act responsibly will sharpen the cutting edge of domestic companies.
The directive also urged SOEs to integrate the sense of social responsibility into their corporate culture and governance, open more dialogues with global peers and participate in the constitution of international standards on business responsibilities.
But "a continuously rising profitability" was still underscored as a necessity for SOEs to better fulfill their social responsibilities.
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