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The Address by Mr. Liu Meng, Chairman of Yangtze River International Holdings Group and Executive Director of Yangtze River International Chamber of Commerce at the 7th IRMCL (Excerpt)





Ladies and Gentlemen,


I’m Liu Meng from the Yangtze River International Chamber of Commerce (YRIC). Just now Ms. Liu Meng from the UN Global Compact delivered a speech. Although we own the same name Meng (which means “cute” in English), we are not here to act cute. We are here to express our opinions on corporate social responsibility from different perspectives. This is the first time that I participated in the International Roundtable of Multinational Corporations Leaders (IRMCL), but I’m impressed by the meeting and learned a lot from it. This is a high-level pragmatic platform established by CICPMC under the leadership of Vice-Chairman Zheng Wantong, which inspires people’s thoughts on two-way internationalization and globalization and reflects on core ideas of the just concluded APCE meeting and the “Asian Dream”.


Now, I would like to discuss social responsibilities of multinational corporations from four aspects: 


1. Set up social enterprises through crowd-funding to perform social responsibility. Currently, the mode of crowd-funding is invading into and changing some fields. It is estimated that the scale of crowd-funding around the world totals 16.5 billion dollars and that in China reaches 2 billion RMB. Crowd-funding is not only a way of accumulating money, but also gathering all valuable productive factors, which has become an effective tool employed by creative projects and companies. Social enterprises are set up in the spirit of entrepreneurship and take commercial measures to realize their social goals. 


2. Advocate social responsibility via the Internet and new media. An excellent enterprise shall be an enterprise citizen which integrates its basic social values into its daily operation and takes the interests of all shareholders into consideration, including employees, customers, suppliers and the natural environment. It is YRIC’s consistent pursuit and mission to lead our member enterprises to achieve success and undertake social responsibilities. It is our responsibility to advocate civic awareness and recommend excellent corporate citizens to make civic awareness rooted in the heart of every member of YRIC. Therefore, YRIC takes advantage of Wechat to solve the problem of information and trust asymmetry between global business leaders. We also stick to innovation. We have established 20 international chambers of commerce, all of which will use the same name and belong to the same organization. We try to bring something new to the cooperation mode.


3. Cultivate social entrepreneurs to undertake social responsibilities. In practice, we have noticed that an excellent entrepreneur grows from a business operator, a business thinker and a business leader and then become a social entrepreneur. A successful chamber of commerce shall not only be an incubator of enterprises but also a cultivator of social entrepreneurs. Based on this, YRIC, as a localized international chamber of commerce, will serve those social entrepreneurs who have both local and global visions.


4. Stick to the concept of social responsibility and fulfill social responsibilities. Almost all of the first-generation entrepreneurs of those time-honored brands are idealists. They put social responsibilities first and profits second. Those who put profits first will never succeed in creating a century-old brand. Entrepreneurs shall take social responsibilities. YRIC is aimed to make enterprises not only give donations but also provide information and technological help.


In summary, I would like to quote from Mr. Ma Weihua, President of YRIC, who said that the culture of Confucian merchants and the culture of helping others shall be part of enterprises’ culture. Corporate social responsibility shall be fulfilled in business practices, and a corporate shall be responsible for its shareholders and other related parties. It is reasonable for enterprises to gain profits, but only when the profits are gained by proper means can the enterprises win people’s respect. Thank you!