Study on Public Policy of Corporate Social Responsibility in China

Corporate Social Responsibility(CSR)is the sum of bearing due responsibility to stakeholders and social regulation on corporate behavior in the process of pursuing economic benefits. Enterprises can establish good corporate image, create favorable media opinion, and enhance market competitiveness by bearing social responsibility. But when the cost of taking social responsibility is greater than the benefit or the failure in bearing social responsibility is low, it will appear such problems as environmental pollution, food safety, labor conflicts and lack of credit. As the regulation on corporate behavior, CSR public policy should guide, supervise and control the enterprises in bearing social responsibility. Steady progress in CSR is made by the Chinese central government, local government and self-discipline organizations, and some results have been achieved, CSR initiatives is getting increasingly strong. Still there are many defects about agency settings, rewards and punishments mechanism, and institutional arrangement. It is suggested that special management mechanism be established, rewards and punishments mechanism be balanced, widely accepted standard and its supporting system be formulated.