Others News
- Companies lacking social responsibility criticized
Date: 30-Jan-2007 Sources: (Xinhua Online)
A leading lawmaker slammed Chinese companies for blindly pursuing profit and neglecting their social responsibilities and suggested legislation to buck the trend.
'The practice is serious and widespread among Chinese firms. Like other countries, China can no longer tolerate it,' Cheng Siwei, vice-chairman of the Standing Committee of the National People's Congress, said in a signed article published Monday in China Economy Weekly, a magazine run by the Party's mouthpiece - the People's Daily.
Reckless practices include private coal mine bosses pushing farmers to work in hazardous conditions, food company managers using cheap industrial materials to make products for human consumption, and factories discharging torrents of pollution, Cheng said.
He said these 'irresponsible practices' have prevented Chinese companies expanding their business overseas. But he said the problem was not only one for domestic companies and issued a warning: 'Even in developing countries, foreign companies that turn a blind eye to their social responsibilities will be kicked out of the market.'
Society expects companies not only to produce economic profits but also to promote equality and social justice, and balance the interests of different groups, Cheng said, adding that business affects politics, culture, social values, and especially the environment.
Cheng said it is important to provide for severe legal sanctions for companies that shirk their social responsibilities when they do business; otherwise it is unfair to 'responsible companies.'
But he did not say in the article how the legislation would work.
'Prompted by both ethics and the law, I believe more and more companies and entrepreneurs will shoulder their share of responsibility to society,' Cheng said.
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