The Way of Social Responsibility Management of Central SOEs (Volume 3) released

Central state-owned enterprises(SOEs) play a crucial role in key industries and fields of the national economy. Since the founding of the People’s Republic of China, central SOEs have seen a rapid development, with their scale expanding and momentum gaining. During the “Thirteenth Five-Year Plan”, central SOEs produced material wealth that accounted for one eighth of the nation’s GDP and contributed to about one fourth of the nation’s revenue income, therefore becoming an important pillar of China’s economy.

While sustaining the high-quality development of China, central SOEs have been actively taking the lead to fulfill social responsibilities.

Via promoting responsibility management, practice and communication in a continuous and multi-layered way, central SOEs have accumulated various and effective theories and experience for corporate social responsibility (CSR) management. They have made unique contributions to building a moderately prosperous society in all respects and achieving the United Nations’ Sustainable Development Goals. Highly praised by all walks of life, central SOEs are an vivid embodiment of China’s enterprises’ core competitiveness in the era of sustainable development.

For the purpose of timely summarizing and sharing central SOEs’ social responsibility management model and of advancing their efforts in improving social responsibility management to provide for more enterprises beneficial experience in this aspect, The Way of Social Responsibility Management of Central SOEs (Volume 3 including four books) and The Way of Social Responsibility Management of Central SOEs collection were released to the public on October 12 in 2022 in Beijing. The books are supported by State-owned Assets Supervision and Administration Commission of the State Council (SASAC), published by Enterprise Management Publishing House, and compiled by GoldenBee Consulting and experts in this field.

The four books include: China National Petroleum Corporation: Value-geared Social Responsibility Management, State Development & Investment Corp., Ltd.：Responsible Investment-driven Social Responsibility Management, China Communications Construction Group Co.,Ltd.: Vision-driven Social Responsibility Management, China General Nuclear Power Group: Mission-geared, Transparency-driven Social Responsibility Management.

It is reported that these four books are the third batch of research findings of The Way of Social Responsibility Management of Central SOEs collection.

Before the release of the collection, six books featuring central SOEs including State Grid Corporation of China, China State Construction Engineering Corporation, China Resources (Holdings) Co.,Ltd , China Three Gorges Corporation, China Energy Investment Corporation , China National Nuclear Power Co. Ltd. were released in batches in 2020 and 2021, which received attention from all walks of life.

· Great achievements: central SOEs have realized leapfrog development in the practice of social responsibility management

Since its founding, SASAC has attached great importance to the social responsibilities of central SOEs. Via issuing guidelines, promoting the harmonious development strategies, launching campaigns to improve central SOEs’ CSR management, and issuing CSR report, SASAC aims to guide and stimulate central SOEs to take their due social responsibilities and to extensively engage themselves in social responsibility practice. Ultimately, each major task in this filed will be advanced.

Since the distribution of Guidelines on Corporate Social Responsibility of Central SOEs in 2008, SASAC has promoted the fulfillment of central SOEs’ social responsibilities for 14 whole year. With the experience gained in these years, central SOEs have made progress in depth and substance in fulfilling their social responsibility. Leapfrog development has been realized in the “quality” and “quantity” of central SOEs’ social responsibility management and practice. That has laid solid foundations for the sustainable development of central SOEs, and set a standard and model for other Chinese enterprises to fulfill their social responsibilities.

2022 is the year of the 20th National Congress of the Communist Party of China, and it is also the first year for China to embark on a new journey toward building China into a great modern socilist country in all respects and to march in confident strides toward the second centenary goal. Meanwhile, SASAC established Bureau of Social Responsibility in 2022, and issued Work Plan for Improving the Quality of Listed Companies Controlled by Central SOEs. The plan stated that central SOEs should act upon new development philosophies and establish a complete ESG system. This has indicated a new chapter in social responsibility for state-owned and central enterprsies.

As the 20th National Congress of the Chinese Communist Party is to be held, the release of the third batch of the collection The Way of Social Responsibility Management of Central SOEs is particularly significant. The book is not only a systematic summary of the excellent and typical experience of central SOEs in social responsibility management, but also a brand-new platform for them to exchange their ideas on this issue. The book, therefore, can help central SOEs ground their efforts in the new development stage, apply the new philosophy and create a new pattern of development; and via comprehensively, systematically and scientifically fulfilling social responsibilities, the enterprises can accelerate the realization of high-quality development.

· Systematic summary: stimulating central SOEs to enter a new stage in social responsibility management

CSR has become an important feature of the new round of globalization.

Under the guidance of SASAC, a number of central SOEs deeply engaged in CSR management have not only witnessed theories with innovations and practice with highlights, but also achieved improved management and competitiveness, entering a new stage.

The four central SOEs releasing the collection are the very representatives among them.

· The latest result: four central enterprise shared their ways of social responsibility management

Yin Gefei, Founder and Chief Expert of GoldenBee ThinkTank, is the editor-in-chief of the collection. He shared what he had learned from the compiling process, and introduced the background information, research contents and future plans of the book.

At the meeting, Zhang Jin, Deputy Director of Publicity Department of CPC of China National Petroleum Corporation; Xie Baokang, Deputy Director of Party-Mass Department of State Development & Investment Corp., Ltd.; Jiang Xiaojiang, Deputy Director of Work Department of CPC Committee (Corporate Culture Department) of China Communications Construction Group Co., Ltd , Li Tiqiang, Deputy Director of Party-Mass Department of China General Nuclear Power Group shared their experience in social responsibility management. Besides, they also displayed the determination and confidence in promoting social responsibility management continuously under the guidance of SASAC, which showed their responsibilities for advancing sustainable development.

· Taking the opportunity: introducing the social responsibility model of Chinese enterprises to the world

The editorial board of The Way of Social Responsibility Management of Central SOEs pointed out that in this era, economic globalization and humans’ sustainable development have proposed more, higher and newer requirements for enterprises, and that the CSR development has provided other Chinese enterprises with a great opportunity to develop a new way of operation and management on an equal footing. If Chinese enterprises are able to act upon social responsibility management philosophies and methods in an innovative way, and take the lead to reshape their management, they stand a chance to be advantageous in responsibility competition in global market competition.

In the future, The Way of Social Responsibility Management of Central SOEs collection, on the basis of systematically summarizing the experience of central SOEs’ introducing social responsibility philosophies and methods throughout their production and operation, will continue to study the social responsibility practice of all kinds of Chinese enterprises. In addition, it will timely introduce the new models and experience of CSR management of all types of Chinese enterprises. Via more effective ways of dissemination, these typical cases will not be restricted to enterprises, but can be applied to the whole industry and to the rest of the world. This will contribute Chinese wisdom to global enterprise management, and lead a new round of more responsible and sustainable economic globalization.