On April 14, 2022, AmCham China held the virtual launch of the 2022 Social Impact Reports. Over 100 representatives from member companies, think tanks, and relevant organizations joined the event, which marked the culmination of the second annual Social Impact Initiative (SII). The three Reports focus on the topics of carbon reduction, rural revitalization, and the digital economy, and contain analysis of China’s policies as well as best practices from nearly 50 multinational companies (MNCs). The event began with opening remarks from AmCham China’s President Michael Hart who recognized the significant work and contributions of AmCham China member companies over the past year. The day’s keynote speeches were delivered by Fang Jin, Vice Chairman and Secretary General at the China Development Research Foundation (CDRF); Tang Min, Vice President at the You Cheng China Social Entrepreneur Foundation; and Zhang Jian, Vice President of the Institute of Climate Change and Sustainable Development at Tsinghua University.

The Report on Green and Low-Carbon Economy centers on how MNCs’ edge in technology and capital, along with their extensive social resources, has put them in a prime position to facilitate US-China climate change cooperation and help China reduce its overall emissions. The Report on Digital Economy discusses how MNCs can assist SMEs to accelerate and achieve digital transformation and improve access to global markets. The Report on Rural Revitalization focuses on how MNCs can better combine social responsibility with business strategies to support China’s rural revitalization and sustainable development.

At the launch, AmCham China President Michael Hart noted that the Chamber’s member companies have committed to China’s market, with many focusing on the topic of sustainable development for decades. He praised the SII for gathering like-minded stakeholders and providing opportunities to exchange best practices, promote collaboration, and build a more influential platform.

During the keynote session, the three speakers shared their insights about the reports and answered questions from guests online. Fang Jin from the CDRF said understanding of, and proactively participating in, China’s new development paradigm will boost MNCs’ development. He went on to say that building a unified national market and facilitating internal circulation will require participation and contribution from all stakeholders involved. He also discussed how constructing a new development pattern is a realistic and rational choice for China, arguing that reform will increase the scale and flow of internal circulation, enhance global trade efficiency, and strengthen global supply chains.

Tang Min from the You Cheng China Social Entrepreneur Foundation then pointed to China’s large population and significant economic volume to make the point that rural areas have great potential for development. He praised MNCs in China for conducting charity work on a large scale – and for doing so for many years – and said that to further increase the impact of this work MNCs need to come together to combine resources and capacity.

Meanwhile, Tsinghua University’s Zhang Jian remarked that the area of common ground between China and the United States when it comes to climate change is greater than their differences. He further observed that enterprises are the main targets of the global carbon market, putting them in a position to provide customized solutions in a variety of industries. He encouraged AmCham China to continue to play an active role in connecting MNCs and promote best practice sharing. Click here to download the reports.

About the Social Impact Initiative

In July 2020, AmCham China launched an innovative Social Impact Initiative, focused initially on healthcare reforms and the revitalization of micro-, small- and medium-sized enterprises (MSMEs). One of the core principles driving this Initiative is our belief that the private sector has a meaningful role to play in helping China to achieve its objectives and that AmCham China members are uniquely qualified to help. Each year, we hold a number of working sessions as well as a high-profile Social Impact Summit. We also publish one or more annual reports highlighting the work that has been done and the progress that has been achieved.

For further information or to join the AmCham China Social Impact Initiative, please contact Kathy Li at kli@amchamchina.org. For sponsorship opportunities, please contact David Jacobs at djacobs@amchamchina.org.