A strategic management concept whereby companies and financial institutions integrate social and environmental concerns in their business operations and interactions with their stakeholders. Companies and financial institutions will try to balance economic, environmental, and social imperatives, while addressing the expectations of their shareholders and stakeholders. CSR goes beyond charity, though both types of activities can contribute to poverty reduction, enhance a company’s or an institution's reputation, and strengthen its brand.
It is also a goal of Chinese companies engaged in overseas infrastructure projects to safeguard stakeholders’ rights and interests, promote community living standards and sustainability, boost local employment, mitigate adverse social impacts of their projects, strengthen the preservation of cultural heritage and natural scenery, enhance quality management, and shoulder their due responsibilities to stakeholders for the sake of harmonious coexistence and co-development.
Adapted from United Nations Industrial Development Organization (UNIDO), "What is CSR," accessed in 2022, View the Website; China International Contractors Association (CHINCA), "Sustainable Infrastructure Guidelines for Overseas Chinese Enterprises," 2016, View the PDF.