Chinese-funded enterprises in South Africa are making significant contributions to local economic development while excelling in corporate social responsibility, according to a report released Wednesday by the South Africa-China Economic and Trade Association.
JOHANNESBURG, Dec. 12 (Xinhua) -- Chinese-funded enterprises in South Africa are making significant contributions to local economic development while excelling in corporate social responsibility (CSR), according to a report released Wednesday by the South Africa-China Economic and Trade Association (SACETA).
The 2024 CSR Report of Chinese-Funded Enterprises in South Africa, the second edition following its 2018 debut, showcases their remarkable achievements in fulfilling social responsibility over the past five years through detailed case studies and vivid photographs.
To date, more than 200 Chinese-funded enterprises are operating in South Africa. The report highlights their active role in advancing South Africa's "new investment drive" and fostering mutually beneficial cooperation in sectors like new energy, manufacturing, mining, and the digital economy, injecting fresh vitality into the country's economic and social fabric.
The report emphasizes Chinese enterprises' commitment to community service, environmental protection, employee development, and cultural exchanges, which have earned them widespread praise from local governments and communities.
Chinese Ambassador to South Africa Wu Peng said during the report's launch that it highlights the significant contributions made by Chinese-funded enterprises to South Africa's development. These contributions span sectors such as improving livelihoods, protecting the environment, and supporting various industries.
"It's a great demonstration of how Chinese enterprises faithfully implement the principle of sincerity, real results, amity, and good faith, and take the right approach to friendship and interests," said Wu.
"Our companies cannot contribute this much to South Africa without the overall strong bilateral economic and trade cooperation between our two countries," he said. "I am convinced that in the future, more and more Chinese enterprises will come to South Africa, invest in South Africa, and build for South Africa, bringing more benefits to the two countries and two peoples."
South African Deputy President Paul Mashatile who also spoke at the report's launch, commended the economic collaboration between the two countries, noting their shared commitment to sustainable development and corporate governance.
"The report launching today highlights the contributions of Chinese-funded enterprises in South Africa to environmental conservation, community development, education, and healthcare," Mashatile said, noting that these enterprises serve as role models for businesses, proving that profitability and social responsibility can and should coexist.
The deputy president also reaffirmed his country's commitment to strengthening trade and investment ties with China. "South Africa and China can thrive in an interconnected world by forming strong partnerships, overcoming economic uncertainties, and leveraging globalization's benefits," said Mashatile.
When releasing the report, SACETA Chairman Zhang Chaoyang said that nearly 50 Chinese-funded enterprises operating in South Africa have made significant contributions. These companies have invested approximately 9 billion U.S. dollars, paid taxes totaling around 80 billion rands (about 4.5 billion U.S. dollars), and contributed nearly 2 billion rands through training programs and donations.
"Through various corporate social responsibility initiatives, they contribute to local communities, sharing the benefits of their success and helping to overcome challenges, thus establishing themselves as responsible corporate citizens," said Zhang.
He also stressed that Chinese-funded enterprises in South Africa embrace the principles of "responsibility, contribution, and sharing," and remain committed to fulfilling their corporate social responsibilities as the relationship between China and South Africa continues to expand.
"As our bilateral economic and trade cooperation reaches new milestones, Chinese-funded enterprises will remain working closely with the South African government and its people and playing an active role in driving the nation's economic progress," Zhang added. ■