Wuxi's New Zone Corporate Social Responsibility Guidelines, the first step in a three-year program for building a CSR system, was published recently.
This is the first local CSR criteria for the Wuxi municipality in Jiangsu.
According to the definition in the guidelines, CSR refers to a company balancing the benefits of stakeholders and society while pursuing corporate interests, and realizing sustainable development of the company.
Sixty indices, focusing mainly on labor relations, resource conservation, honest management, and social welfare, will be assessment standards for companies. Support policies will be applicable to companies that do well in CSR, for example in the provision of loan guarantees and technology transformation subsidies. Ten companies with high performance in CSR will be the first batch to enjoy those support policies in 2008.
The concept of harmonious responsibility was first put forward in the guideline.
