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The operating benefits of COSCO have achieved historic breakthroughs in several years in a row with operation performance hitting new highs. In 2006, COSCO ranked No.1 in the industry in terms of the tax. |
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■ Actively assume social responsibility, support public welfare undertakings, pay attention to people's livelihood and return
to the society. |
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While making efforts to seek development, COSCO has always been actively assuming the social responsibility and supporting charity and public welfare undertakings. COSCO raised RMB100 million to establish the COSCO Charity Fund on Dec. 20, 2005, which is China's first non-profit and non-government charity fund organized by an enterprise. COSCO actively holds a wide range of public aiding events and charity activities in multiple ways while introducing advanced management concepts via foreign cooperation and exchange. Special departments are responsible for manage the project implementation, putting the responsibilities into every person, conducting the full tracking management for relevant projects, propelling and urging the execution of the projects to maximally use the charity funds as scheduled. COSCO applies scientific management to the public welfare projects and donation through COSCO Charity Fund while implementing the project management and full supervision over the utilization of all funds thus ensuring the maximal utilization of the money.
In 2006, COSCO and its subsidiaries donated RMB33.5568 million in total (see the below table). COSCO Charity Fund is actively committed to social assistance including caring for the people in need, disaster relief, helping poor people, providing help for children, supporting medical healthcare and studying aid according to Priorities of COSCO Charity Fund in 2006, which fulfilled the promise of paying attention to livelihood and returning to the society and fully performed COSCO's social responsibility as a backbone state-owned enterprise. In 2006, COSCO Charity Fund developed 24 projects in total, valued RMB20.7905 million. |
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| With the awareness being raised, COSCO Charity Fund is being increasingly recognized and supported by the society, with capital sources being expanded. Such companies as Industrial and Commercial Bank of China (Asia) and China International Capital Corporation Limited actively donated to COSCO Charity Fund and participated into charity projects. |
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| Some overseas enterprises also expressed their interest on the charity undertaking of COSCO, hoping to support China's charity undertaking via COSCO Charity Fund. To be specific, Industrial and Commercial Bank of China (Asia) donated HKD50,000 to COSCO Charity Fund. COSCO actively holds a wide range of public aiding events and charity activities in multiple ways while introducing advanced management concepts via foreign cooperation and exchange. Special departments are responsible for manage the project implementation, putting the responsibilities into every person, conducting the full tracking management for relevant projects, propelling and urging the execution of the projects to maximally use the charity funds as scheduled. COSCO applies scientific management to the public welfare projects and donation through COSCO Charity Fund while implementing the project management and full supervision over the utilization of all funds thus ensuring the maximal utilization of the capital. |
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| COSCO's overseas companies are also actively engaged in the social welfare undertakings to perform COSCO's social responsibility as an international corporate citizen. For example, as a “social citizen”, COSCO Hong Kong is zealous in social welfare undertaking and assuming social responsibility. The company donated HKD2 million and HKD5 million to Hong Kong Maritime Museum and Hong Kong Maritime Library respectively; the company also attached great importance to improving the employees' citizenship awareness and organizing employees to take part in social welfare activities. Employees are very enthusiastic about the donation activities; the company developed the Management Measures for Mutual Help Funds, established special mutual help funds to help poor employees and provided scholarship for children of poor employees. In 2006, the company offered RMB210,960 of mutual help funds to 61 employees and RMB18,000 of scholarships for 16 students, which helped over 50 poor families. For important festivals such as Spring Festival, the company organized consolatory teams to console crews at pots, retirees and poor families in different places, which fully reflected COSCO's personalized working environment |
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