SZSE-listed Companies Actively Practice the Corporate Social Responsibility of Poverty Alleviation

SZSE-listed Companies Actively Practice the Corporate Social Responsibility of Poverty Alleviation

SZSE-listed Companies Actively Practice the Corporate Social Responsibility of Poverty Alleviation

The FINANCIAL -- As an important player in poverty alleviation, SZSE-listed companies actively respond to the call of the China Securities Regulatory Commission (CSRC), conscientiously implement national strategies, and secure solid progress in targeted poverty alleviation. By developing local industries, education, and healthcare, they carry out targeted poverty alleviation in a sustainable manner, therefore promoting development in poverty-stricken areas and lifting many people out of poverty.

In 2017, up to 391 SZSE-listed companies have disclosed poverty alleviation information, accounting for 18.57% of the total. The total amount of poverty alleviation funds (including materials) reached CNY13.822 billion, covering over 330,000 impoverished people. Among others, the investment in industry development reached CNY9.373 billion, covering 1,754 projects and lifting 294,837 people out of poverty.

On average, each of these 391 companies spent CNY35.35 million and helped 856 people out of poverty. Compared with previous years, year 2017 witnessed significant improvement in the following: the number of companies joining poverty alleviation, the investments in poverty alleviation, and the effects thereof. This showcases not only the continuously increasing efforts toward poverty alleviation, but also the encouraging achievements.

From the perspective of industry distribution, manufacturing companies play a leading role. In 2017, 257 SZSE-listed manufacturing companies directly invested CNY9.286 billion money and lifted 245,973 people out of poverty, accounting for 67.18% and 73.26% of the total of SZSE-listed companies respectively. In addition, companies from various industries fully consider their and the local characteristics to implement innovative and targeted poverty alleviation. For example, agricultural companies have developed various working modes for poverty-stricken families, such as joint stocks, contracting, self-construction and self-operation, and labor employment, effectively promoting poverty alleviation. Financial institutions, with the highest industry participation rate, fully utilize financial instruments and continually increase their investment in poverty alleviation.

From the perspective of company types, state-owned enterprises (SOEs) are active participators. Of all the SZSE-listed SOEs, up to 139 companies have disclosed poverty alleviation information, accounting for 34.07% of the total. In the private sector, 216 companies have disclosed the same, accounting for 14.42% of the total, but their direct investments reach CNY12.968 billion, ranking the highest. In 2017, these SOEs helped 62,191 poor people, and these private companies drove 273,090 people out of poverty.

From the perspective of poverty alleviation models, spurring local industrial growth plays a key role in targeted poverty alleviation. In 2017, SZSE-listed companies invested CNY9.373 billion in developing rural industries, accounting for 52.59% of the total investment, supported 1,754 projects and drove 294,837 people out of poverty, accounting for 87.82% of the people helped by SZSE-listed companies. In the meantime, SZSE-listed companies further promote other social welfare programs, such as healthcare programs, relocating impoverished people from inhospitable areas, environmental protection, and donations to charities, actively promoting the overall effectiveness of poverty alleviation.

As an important pillar of the national economy, listed companies have always played an active role in fulfilling corporate social responsibilities. Next, the SZSE will take more measures, with a focus on information disclosure, and continue to encourage, support and guide listed companies to fulfill their social responsibilities in poverty alleviation. In this way, we can reach synergy and coordination, thus actively serving the national strategy of targeted poverty alleviation.