Companies asked to report on social responsibility
Updated: 2012-08-20 16:16
By Chen Jia (chinadaily.com.cn)
The China Association of Public Companies urged listed companies to publish corporate social responsibility reports.
The move would allow companies to timely release operational information, focus on investors' returns and boost market confidence, the association said.
By the end of April, 586 companies listed on the A-share market had released 592 corporate social responsibility reports.
The figure increased 11.49 percent compared with a year earlier. However, those companies only accounted for 25 percent of the total A-share companies.
Among the 592 reports, 242 of them were mandatory.
As the stock market in the Chinese mainland is facing turbulent times because of the gloomy external and domestic economic environment, public companies should pay more attention to investors' interests by stabilizing share prices and boosting confidence, said Yang Hua, vice-chairman of the association.
"Listed companies should not suck the blood from investors but take social responsibility more seriously," Yang said.
Meanwhile, according to Chen Yuanqiao, a senior researcher with the China National Institute of Standardization, the authorities are studying standards and rules to regulate the performance of public companies.