China Begins Business Venture that is Opening Up China Even More

By China Federation of Industrial Economics, Special for  USDR

The Belt & Road Industrial and Commercial Alliance (BRICA) sponsored by the China Federation of Industrial Economics (CFIE) was launched in Beijing on June 16. Leaders from 22 business associations in 20 countries and regions attended the launch ceremony. At the event, China’s first Chinese-Invested Company Social Responsibility Roadmap designed to boost the development of the One Belt, One Road Initiative, Chinese President Xi Jinping’s initiative to develop trade through and with the countries that lie along the ancient Silk Road overland and seaborne trade routes, was announced. The roadmap, based on the principle of respecting the rule of law, further promoting China’s opening-up initiatives and cooperation, equality and mutual benefit, transparency, as well as harmony and inclusion, will focus on improving company awareness of corporate social responsibility (CSR), enhancing their ability to fulfill their social responsibility roles, building a multi-party communication platform, and evaluating achievement by the participating companies in fulfilling their social responsibilities, in a move to help Chinese-invested companies in the countries targeted by the One Belt, One Road initiative better fulfill their social responsibilities while promoting regional sustainable  development.

The One Belt, One Road Initiative provides Chinese-invested companies an opportunity to expand beyond their home market, while, at the same time, bring them face-to-face with new challenges, especially in the areas of community inclusion, security management, and environmental conservation, said Wang Xiaoguang of the Corporate Social Responsibility Center (CSRPC), an organization under the aegis of the China Federation of Industrial Economics (CFIE). The Chinese-Invested Company Social Responsibility Roadmap is the first major project rolled since China’s One Belt, One Road initiative was announced. The roadmap will help businesses better address social and environmental risks and is expected to help the international community understand Chinese business and commercial community’s decision to put the concept of sustainable development into practice and to abide by those  practices.

SOURCE China Federation of Industrial  Economics

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