Looking past profits for society's sake ( 2003-11-10 10:35) (China Daily)
If a child is asked "What is Coca-Cola?''on the street in Beijing or
Shanghai, he or she might sneer at the ignorance of the person inquiring.
However, when a journalist presented the same question to a group of children
at a remote mountain village, they all told him "It's a school.''
They happened to be pupils of a Coca-Cola Project Hope school, who may have
never actually tasted the famous soft drink, but knew where their education was
coming from.
Like the global giant, more transnational corporations are paying attention
to Chinese society, including getting involved in educational and community
roles, when doing business in the world's most populous nation.
In addition to creating wealth for communities, the educational and social
welfare packages offered can change the fate of a person and even a whole
family, said Gu Xiaojin, secretary-general of the China Youth Development
Foundation.
Held Sunday, a forum and exhibition covering the links between the
business world and society attracted about 300 experts, officials and business
people from multinational corporations.
Speaking at the opening ceremony, Civil Affairs Minister Li Xueju said the
growing economic imbalance between eastern and western regions in the country
helps remind people that corporate social responsibility should play an
important role in promoting economic development and social progress.
In the past two decades, China has experienced an unprecedented increase of
foreign direct investment, which was mainly been initiated by transnational
corporations.
More than four-fifths of the world's Fortune 500 corporations have invested
in China since its reform and opening policy began.
Conversely, international public welfare organizations -- which were lagging
behind -- have been busy of late, with most establishing a presence locally.
According to Fan Baojun, president of the China Charity Federation, one of
the biggest challenges will be continuing to attract the attention of
multinational firms in terms of public welfare and social affairs while they
expand their business.
Coca-Cola China Ltd Chairman Steve Chan said: "In China, as a responsible
corporate citizen, we believe what is best for the welfare of the people and for
China overall is also best for our business.''
