Making money took a back seat yesterday at a conference for Chinese businessmen from around the world.
Instead, social responsibility and the time-honoured values of Chinese towkays, like diligence, were the dominant themes at two sessions of the 11th World Chinese Entrepreneurs Convention.
Speaking on environmental protection, property tycoon Wang Shi, chairman of China Vanke, was blunt, saying real estate developers – including his own – were not yet doing enough to introduce green features to buildings in China.
But they are slowly changing, he said, as more Chinese cities offer subsidies for green technology and the cost of utilities goes up, making consumers more conscious of saving energy.
But too many companies were still opting for profits first, he added. ‘We must remember that if the earth fails to continue sustaining itself, China’s economy will also not be able to sustain itself either.’
China Vanke is the largest developer of homes in China, with net revenues of 46.05 billion yuan (S$9 billion) in 2009. It has housing projects in 52 Chinese cities.
Mr Wang also cited other areas in which Chinese businesses needed to develop a greater sense of social responsibility, including food safety and narrowing the rich-poor gap.
Former Housing Board and Urban Redevelopment Authority chief Liu Thai Ker also spoke on the rich-poor gap, saying any gracious society must be both developed and equitable.
Agreeing, Mr Liu Changle, founder and chief executive of Hong Kong’s Phoenix Satellite TV, said giving to charity was one way Chinese businessmen could help narrow the gap.
In the United States, he noted, philanthropy amounts to 2.4 per cent of its annual gross domestic product. In China, it is only 0.05 per cent. Further, the wealthy in China own 80 per cent of its wealth but account for a mere 15 per cent of charity donations, he added.
‘There is a lot of catch-up to do,’ he said.
Mr Liu Thai Ker also pointed to the preservation of buildings as another important responsibility of businesses and governments.
Singapore, as a result of preserving about 7,000 buildings, has been able to make the most of its heritage, despite being a city with little history, he noted.
‘We are accountable to the next generation for the kind of city that we bequeath to them,’ he said.
At a separate panel discussion, successful Chinese businessmen from the diaspora said that even as entrepreneurs embrace the latest technologies and new business methods, they should take care to retain such traditional Chinese values as diligence and integrity.
‘Everyone knows the Chinese, with their diligence and quick thinking, have contributed a lot to the world’s economic prosperity,’ said Mr Zhong Sheng Jian, founder and executive chairman of Singapore-listed property developer Yanlord.
But he attributes his company’s success to another factor – its sense of responsibility towards customers, employees and society.
‘The more responsible you are, the more the marketplace and society will reward you with growth,’ he said.
Mr Francis Yeoh, managing director of Malaysian infrastructure conglomerate YTL Group, added that his company preserved its integrity by taking only employees with moral scruples and a long-term view of things.
‘If you come short-term and want to be a CEO, like the American CEOs on a golden parachute, ours is not the company to join,’ he quipped.
