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CEAFI Award for BASF's sustainable investments in China |
11/07 |
BASF China was named "2006 Outstanding Foreign Direct Investment Company in implementing CSR". The award was given by the China Association of Enterprises with Foreign Investment (CAEFI), with strong involvement and support by the Ministry of Commerce.
BASF was shortlisted for the top 50 foreign-invested companies, among 600 applicants in China. Due to BASF's outstanding economic returns with adherence to Chinese laws and regulations, its labor contract system and harmonious employment relationship, its focus on environmental protection, its responsibility to costumers, and its contribution to public welfare industry it could win the award.
It is the first year that the 20-year-old CAEFI included the CSR award in its annual awards, signifying that the government has made corporate social responsibility a norm to evaluate and recognize foreign investors, an encouraging move for BASF to continue its leading role in pushing forward sustainable development in China.
On the same occasion, also BASF-YPC Company Limited (BYC), the joint venture between BASF and Sinopec, got the annual award for Outstanding Foreign Direct Investment Enterprise. It is a further award of excellence for BASF group.
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