The Chinese Academy of Social Sciences (CASS) published its Corporate Social Responsibility (CSR) Report Preparation Guide 2.0 on Thursday and encouraged more State-owned enterprises (SOEs) to file CSR reports by 2012.

The Chinese Academy of Social Sciences (CASS) published its Corporate Social Responsibility (CSR) Report Preparation Guide 2.0 on Thursday in Beijing. [China.org.cn]

Peng Hugang, head of the Research Bureau of the State-owned Assets Supervision and Administration Commission (SASAC) and who participated the development of the guide, said the government wants all SOEs to publish CSRs by next year.

Last year, only about 50 of the roughly 100 SOEs wrote CSR reports, Peng added.

Overall, from 2006 to 2010, the number of Chinese companies publishing CSR reports increased to more than 700, according to CASS.

However, as the push continues for more companies to produce CSR reports, there has been criticism.

Chen Jiagui, a member of the Standing Committee of the National People's Congress and director of Economics Division of CASS, said many problems exist in the current reports.

"Some of them are too simple or their frameworks are unclear. They need to improve them regarding the timing, objectivity, balance and readability of the information," Chen said.

In December 2009, CASS issued the CSR 1.0 to provide a framework for companies, but in the following year, only 10 SOEs referred to the guide when writing their reports.

Peng said that economic globalization has made it vital for companies to fulfill their social responsibilities, communicate with stakeholders, and strike a balance between economic growth and environmental protection.

CSR 2.0 has taken into account international practices and contains expanded data for a more diverse group of industries, Peng said. It fuses social, environmental and market responsibility and also emphasizes greater responsibility in management.

The guide is supported by the Sino-German CSR Project, the Chinese Enterprise Confederation, the China Light Industry Association, the China Petroleum and Chemical Industry Federation, the China Corporate Citizenship Committee, and the China WTO Tribune.

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