Development of Corporate Social Responsibility in China

Based on the introduction to corporate social responsibility, its defmition was proposed, and the difference between corporate social responsibility and economic legal liability was pointed out. Moreover, the development of corporate social responsibility was reviewed and the SA8000 standard system was briefly introduced, on the basis of which, the misunderstanding of corporate social responsibility in our country was discussed. At last, the resolutions were proposed, that is, enhancing the awareness of corporate social responsibility and promoting the establishment of corporate social responsibility system. After 1990s, corporate social responsibility has attracted the attention of the academic circle in China and most researchers take a positive attitude to corporate social responsibility. Recently, the topic has attracted more and more interests of scholars but few of them studied it systematically in theory, and the majority of them have proved the necessity of corporate social responsibility, or proposed the countermeasures for China combining the assessment of SA8000. In China, the Company Law of the PRC was revised in October 2005, and the new Company Law pursues the maximum value of shareholders and enhances the corporate social responsibility. Article 5 of the new Company Law of the PRC requires companies must "bear social responsibility" when engage in operating activities. Companies should assume a certain responsibility for labors, creditors, suppliers, consumers, residents where the company is located, natural environment and resources, national security and social comprehensive development.