Trade body urges banks to be socially responsible

China is continuing its push to encourage businesses to take corporate social responsibility (CSR) seriously, this time targeting financial institutions. Recent guidelines urge banks to produce a CSR report by the end of June 2009, and every year in the future.

The self-regulating China Banking Association (CBA) published the Guidelines on Corporate Social Responsibility for Banking Financial Institutions in China on January 12 2009, asking institutions to take economic, social and environmental responsibility. Banks are told to ensure fair employee and consumer rights, contribute to the community, and participate in environmental campaigns as well as to provide preferential terms to clients with a good CSR track record.