CSR Is a Core Element of Comprehensive Competitiveness,According to Zhu Hong Ren

Corporate Social Responsibility (CSR) is a core element of comprehensive competitiveness, according to the Chinese Ministry of Industry and Information Technology committee member Zhu Hong Ren.   China's economy has currently entered a critical period of strategic adjustment, opportunities and challenges, Mr. Ren said while addressing the China Textile and Apparel Social Responsibility Annual Meeting, organized by the China Textile Industry Association.   The meeting, which had 'Beautiful textiles, responsibility and development' as the theme, discussed the performance of the Chinese textile and garment industry in the past year, and the challenges and opportunities for sustainable development, as well as social responsibility of the textile and garment industry.   Labor costs, low international demand, difference in price of domestic and imported cotton, and other unfavourable factors such as high dependence on exports have necessitated strategic adjustment of the textile industry in the country, Mr. Ren said, accoridng to a statement.   According to him, in the current new situation, the development of the Chinese textile industry needs strengthening independent innovation and technological innovation, strong quality assurance, accelerating setting up of independent brands, adhering to resource conservation and environment protection, promoting international exchanges and cooperation, and thereby striving to create a new era where textiles get competitive advantage.   Stating that CSR is a core element of comprehensive competitiveness, Mr. Ren explained that as China's textile and apparel industry moves towards catering to high-end consumer market, gradually there would be increasing awareness and it can be said that corporate social responsibility and the transformation and upgrading of the textile industry are mutually inseparable.