(Hong Kong, 5 August 2022) China Overseas Land & Investment Ltd. (the “Company”; Stock Code: 0688.HK) is honored to receive the 11th “Junzi Corporation Award” by The Hang Seng University of Hong Kong (HSUHK), which is a recognition of our virtues of “Ren (benevolence)”, “Yi (righteousness)”, “Li (propriety)”, “Zhi (wisdom)”, “Xin (trustworthiness)” and high engagement in ethical business activities and corporate social responsibility fulfilment.
Junzi is an ideal character in Chinese Confucianism. If a person meets the moral standards of Confucianism, he can be called a “Junzi” and so as a corporation to a “Junzi Corporation” in the business environment. HSUHK introduced the concept of “Junzi” character in Chinese Confucianism in 2011 whereby an annual Junzi Corporation Survey is conducted to find out and commend companies with Junzi virtues.
The “Junzi Corporation” proposed by HSUHK is a comprehensive framework of virtue-based business ethics. Integrating the five virtues of “Ren(benevolence)”, “Yi(righteousness)”, “Li(propriety)”, “Zhi(wisdom)”, “Xin(trustworthiness)” under the umbrella of the “Junzi” character, it also absorbs the western emphasis of integrity and fairness in business ethics theory, thus is able to more thoroughly examine the business practices of a corporation and measure the overall level of business ethics.
Facing greater uncertainties in the external environment brought by continous resurgence of the global epidemic, tense geopolitical relations and the aggravated threat posed by climate change, it becomes more important to strengthen corporate governance and risk management, as well as to observe business ethics. The Company has established a sound risk management framework and adopted the “three lines of defense” risk management model combined with both “top-down” and “bottom-up” approaches on risk oversight, identification and assessment. In addition, the Company has set up a Corporate Governance Committee at the board level, of which the majority are independent non-executive directors, to push every employee to fulfill his responsibility from “top-down”, demonstrating our determination to improve our corporate responsibility and sustainability to shareholders.
China Overseas Land & Investment is Awarded the 11th “Junzi Corporation Award” by The Hang Seng University of Hong Kong
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