Why do foreign companies value this ESG report?

On the afternoon of April 23rd, the "ESG Action Report for Foreign Enterprises in China (2024)" was grandly launched at the China Media Group's Guanghua Road office complex. While the report is rich in content, we noticed the extraordinary importance foreign companies attached to the event. Representatives from invited foreign companies, including Samsung, Panasonic, BASF, Mitsubishi, ThyssenKrupp, and Vale, shared a common aspiration: long-term development in the Chinese market and shared growth with it.

ESG (Environmental, Social, and Governance) is a corporate management and investment philosophy proposed by the United Nations in 2004. It emphasizes the long-term coordinated development of the economy, environment, and society. This aligns closely with my country's key strategic objectives, including high-quality development, cultivating new productivity, dual carbon emissions, and shared prosperity. China has proactively aligned itself with high-standard international economic and trade rules and has been actively promoting the implementation of ESG practices.

The voices of foreign companies are reflected in the data and facts of this report. By 2024, the ESG index of foreign companies in China will generally improve. The average score for East Asian companies rose from 77.3 to 78.6, while the average score for European and American companies increased from 66.7 to 69.0. This clearly demonstrates the continued strengthening of foreign companies' investment in ESG initiatives in China. In recent years, mainstream foreign companies have invested substantial capital, establishing a strong presence in their industrial operations. Foreign companies in China are actively engaging in ESG initiatives and striving for localization, demonstrating a deep commitment to China's economic development model and a long-term perspective on China. They are a strategic choice to integrate into China's new landscape of high-quality development, participate deeply in China's modernization drive, and share in the fruits of its economic development. China's opening up is two-way and mutually beneficial, not a forced solution but rather a fruit of shared growth.

Over the years, foreign investment in China has generally yielded rich returns, and China's remarkable economic achievements are the result of the concerted efforts of all parties. The "two-way journey" between China and the world is a shared aspiration and an unwavering trend. With a broad business environment, vast market prospects, stable policy expectations, and a favorable security situation, China has always been, is now, and will always be, a fertile ground for foreign investment and business development.

Through this ESG Action Report, we witness the magnificent journey of countless foreign companies deeply integrating and resonating with China's economic development, and a magnificent picture of the shared prosperity of the Chinese and global economies.

Source: CCTV Finance