On May 26th, the 2009 Corporate Social Responsibility (CSR) Report of China’s Industrial Economy, sponsored by the China Federation of Industrial Economics, was launched at the Great Hall of the People in Beijing. Yuchai Group, alongside 19 other major companies including the State Grid Corporation of China and Baosteel Group, released its 2008 CSR report. This event marked a significant step in showcasing corporate achievements in fulfilling social responsibilities. It was Yuchai’s second CSR report released in Beijing, following the 2007 Sustainability Report.
This conference served as the first centralized platform for publishing CSR reports in China, with plans to hold it annually. The initiative aims to regularly organize and publish CSR reports through industrial companies and associations, encouraging more businesses to commit to social responsibility. By doing so, it fosters an open and transparent self-regulation system and promotes public oversight. This effort is expected to enhance the reputation and social responsibility of Chinese enterprises across various sectors, including steel, machinery, power, chemicals, mining, non-ferrous metals, and coal.
At the event, Xu Kuangdi, President of the China Federation of Industrial Economics and member of the Chinese Academy of Engineering, emphasized the importance of corporate social responsibility. He highlighted that the government actively encourages companies to take on broader social roles beyond economic performance. In response to natural disasters like the 2008 snowstorm and the Wenchuan earthquake, Chinese companies demonstrated responsible behavior, but challenges remain as China continues its rapid industrialization and urbanization.
Minister Li Yizhong of the Ministry of Industry and Information Technology stressed that in the face of the global financial crisis, companies must prioritize their social responsibilities. He urged industrial enterprises to integrate CSR into their strategies and operations, helping to build resilience against economic downturns while enhancing their public image. Specific priorities included stabilizing employment, ensuring safe production, maintaining integrity, and focusing on resource conservation and environmental protection—key aspects of modern corporate responsibility.
Chen Ying, a member of the UN Global Compact Council, praised the initiative, noting that the centralized release of CSR reports by 19 Chinese companies has contributed positively to societal stability and improved the international image of Chinese enterprises.
The China Federation of Industrial Economics organized an expert panel to evaluate the reports. Yuchai’s “Green Development, Harmony and Win-Win – 2008 Sustainability Report†received high praise. Experts recognized Yuchai’s leadership in the internal combustion engine industry and its commitment to the UN Global Compact principles. The report showcased Yuchai’s sustainable development strategy, emphasizing green initiatives, environmental protection, and social welfare. Its comprehensive structure and innovative approach in green technology were particularly noted.
During the press conference, leaders such as Xu Kuangdi, Li Yizhong, and Chen Ying presented CSR report certificates to the participating companies. Liang Ping, Party Secretary of Yuchai Machinery Co., Ltd., accepted the certificate on behalf of Yuchai.
As a leading diesel engine manufacturer, Yuchai remains committed to promoting sustainable development and demonstrating corporate social responsibility through annual sustainability reports. By doing so, it sets an example for other companies to follow, contributing to a harmonious relationship between business, society, and the environment. Yuchai continues to strive toward becoming a globally recognized brand and a successful multinational corporation.
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