Central SOEs overseas 'significant' to local economies

China's central State-owned enterprises are playing a significant role in nurturing local economies of the countries in which they have presence, a report said.

According to the Research Report on Overseas Social Responsibility of Central Enterprises, Chinese central SOEs have stepped up efforts in offering technology and financial support to local companies and communities in their overseas operations.

The research report was released on Friday by State-owned Assets Supervision and Administration Commission of the State Council and Chinese Academy of Social Sciences.

The report said about 83 percent of central SOEs have offered tech consulting services and sent tech staff for communications with their overseas operators. About 27 percent of central SOEs have set up research and development centers in countries where they have branches.

About 84 percent of central SOEs offered job training to local staff, and about 51 percent sent professional trainers to their overseas branches, up from 46 percent last year..

Central SOEs also contributed to local economic growth through the purchase of goods and materials, according to the report. About 29 percent of central SOEs have over 90 percent of their goods and materials purchased in countries in which they have set up overseas operations.

China's central SOEs also have enhanced awareness of environmental protection alongside their overseas operations, the report shows. About 60 percent have set up a related mechanism to ensure environmental protection, up from 52 percent in 2018.

The research report also revealed that 82 percent of central SOEs have actively promoted local culture and community development, up from 74 percent last year.

Zhong Hongwu, the director for CSR research at CASS, said despite enhanced corporate social responsibilities for central SOEs in their overseas operations, there's still room for improvement.

"About 38 percent of central SOEs lacked a proper mechanism for overseas CSR management, and 75 percent of central SOEs reflected they are in need of a professional CSR team and skilled workers," Zhong said.