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Sinosteel launches sustainability report
By Wang Danna (China Daily)
Updated: 2010-02-02 08:05
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The launch of the report was highly promoted and has secured support from the CSR research institute, the Sino-Australian research institute, several; Australian organizations in China, the Australian government, the Assets Supervision and Administration Commission of the State Council, as well as other communities and media.
The Western Australian Premier Colin Barnett MLA said in a letter to Sinosteel President Huang Tianwen: "On behalf of the people of Western Australia, I am extremely pleased to welcome and support Sinosteel Corporation's 2009 Sustainability Report on Australia. Sinosteel has the support of the Western Australian Government in its efforts to achieve its aims."
With the globalization of the world's economy, the fulfillment of social responsibility has become, by worldwide consensus, one of the crucial factors in evaluating the international performance of any company. Sinosteel is one among the many companies now attaching great focus on the integration of both economic aims and social sustainable development.
Early in the 1980s, Sinosteel initiated its overseas expansion, which involved international economic trade cooperation, as an active response to the nation's call of "going global".
As a large State-owned group devoted to providing comprehensive auxiliary services and integrated services for the steel industry and steel mills, Sinosteel has established a worldwide operating system based on both its domestic and global perspectives.
As part of this process, Sinosteel, as a responsible Chinese company, has managed to maintain a positive combination of international development and fulfillment of its social responsibilities, whilst adhering to a philosophy of "cooperation, friendship, win-win and development" and working cooperatively with openness, friendliness, equality and the pursuit of mutual benefits.
Based on its performance over recent years, the company has worked closely with regional communities and has succeeded in winning respect and trust from both local and international communities.
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In term of its CSR in overseas market, Sinosteel has become a model among China's centrally managed enterprises. In 2009, it was singled out for its "excellent social responsibility practice as a central enterprise" in a series of case studies.
Last year, Sinosteel also introduced its social responsibility practice overseas through a video at a conference held by the State-owned Assets Supervision and Administration Commission of the State Council, setting a good example for other SOEs.
Sinosteel has won awards Corporation Sustainability Australia Report (2008 and 2009) for its outstanding demonstration of responsibility, according to the China News Service.
