CSR and China - Literature review Example

The paper "CSR and China" is an outstanding example of a business literature review. This chapter includes an in-depth account of the concept of CSR from the perspective of the UK as well as China. It offers the various causes behind the apparent differences in performance of firms in the two countries and provides an explanation for the same. The chapter also includes an analysis of literature reviewed from historical studies carried out in the two countries and includes relevant examples of firms to further justify the claims made.

The key aim of this chapter is to enable a better understanding of the concept of CSR in general and understand the manner in which it differs when applied in different contexts, in this case, in two different countries. It provides the readers with a broader understanding of the term and the manner in which its implications and perception differ due to differences in socio-cultural, political and economic differences. CSR and China1.1 definition of CSR in China, According to Article 14 of the 1994 Company Law in China, "Companies must comply with the law, conform to business ethics, strengthen the construction of socialist civilisation, and subject themselves to the government and public supervision in the course of business".

The article further suggests that the companies are not merely obliged to comply with the law but also ensure that all their business activities are ethical in nature (Li, 2010: p.68). The Company Law 2006 however offered an explicit definition of the term. According to Article 5 of the 2006 Company Law "in the course of doing business, a company must comply with the laws and administrative regulations, conform to a social morality and business ethics, act in good faith, subject itself to the government and the public supervision, and undertake social responsibility" (Li, 2010: p.69).China in recent years economic development is very rapid, sustained economic growth rate at around 10%, and now China has become the second-largest economy in the world.