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WISCO Publishing 2015 Social Responsibility Report
Publish Date:2016-06-27

On June 27, 2016, WISCO officially published its ninth social responsibility report—2015 Social Responsibility Report.

    In the opening speech of Social Responsibility Report addressed by the chairman and the party secretary of WISCO—Ma Guoqiang, he stressed that China’s economy has fully entered a new normal crucial stage in 2015. The steel industry has gone through another arduous year in an effort to reduce excessive capacity and cope with market downturn. In response to unprecedented arduous difficulties in dramatically shrinking demand, precipitous fall in steel price and the shadow of drastic losses in the whole industry, WISCO exerted its utmost effort to fight against crisis and strive for survival, the operating scenario was better than the overall market. All these agglomerated hardwork and talents of all WISCO staff; and were full of understanding and supports from each stockholder. In the new norm environment, China’s economy will continue to be in a dip recession in the coming years, the coexisting structure of fatigued demands and excessive capacity will not be fundamentally turned around. The steel industry is standing at a critical crossroad at which dramatic restructuring and reform await. The fittest survives the increasing disparity among steel plants; the path to overcapacity reduction in the whole industry is bumpy and long. The fittest survives natural selection. We can’t foresee when the chilly winter in steel industry to fade out and the spring to come. Only reform and innovation are our inevitable choice. WISCO can better fulfill its social responsibility only after getting through and surviving the crisis.

    Ma Guoqiang pointed out that in the year 2016, which is a crucial period for deepening reform and achieving profitability, by fully implementing the development concept of innovation, coordination, green, opening and sharing and the spirit of the state-owned enterprises social responsibility working conference, with the social responsibility subjects such as quality improvement, profit promotion, green development and employee caring as priority, and taking the opportunity of implementing regional development strategy, accelerating structural reform of supply and deepening state-owned enterprises reform, WISCO would strengthen the iron and steel industry by highlighting innovation, quality, efficiency and profit,  expand and optimize the diversified industries, further play the leading role in taking social responsibility and endeavor to create a better economical, social and environmental benefit with the support from interested parties.

    The Report elaborates the Corporation’s guiding ideology and strategic positioning for developing and planning “the 13th Five-YearPlan”. It indicates that WISCO will insist on the way of quality and benefit oriented way of development, and provide the society with the best iron and steel products, services and package solutions; WISCO will take a view on the whole industrial chain, and focus on developing diversified industries. It will become a first class iron and steel corporation group featuring strong profit capability, high degree of employee satisfaction and powerful innovation capability and international competitiveness.

    The Corporation advances management innovation, adjusts and optimizes administrative organizations in headquarter. The Report states that WISCO will raise the level of standardized operation level of its subsidiary’s board of directors. It will inspect and evaluate the standardization and effectiveness on board of directors operation so as to optimize its operational mechanism; it will launch special training for company directors, supervisors, and secretaries of the board. It will adjust and optimize its headquarter management organizations to further clarify the rights and obligations interface between WISCO Group and WISCO Limited. WISCO International Economic and Trading Co., Ltd., WISCO Metal Resources Co., Ltd., and WISCO Oxygen Co., Ltd. are included into WISCO Limited for integrated management. As the market-oriented reform deepens, the related transactions like logistics, auxiliary production services and urban services become normalized. WISCO reinforces the unified management of construction and production operation of Fangchenggang Iron and Steel project, and integrates Guangxi Iron and Steel Co., Ltd. with Fangchenggang Iron and Steel Co., Ltd.. The principle that “the trouble-makers must be held accountable, and the beneficiaries must be responsible” prevails in the Corporation, the pattern of total control over revenue and expenditure is broken, and eight expenses, for example, the welfare fees are allocated to the grassroots units; the Corporation’s funding model has been changed from highly centralized management to self-management by the legal persons.

    The Report indicates in the analysis of liability management that WISCO discloses the Corporation’s social responsibility performance and accepts the public supervision and feedback through compiling and publishing CSR report, setting up social responsibility website column and holding press conference, etc.. Besides, many channels such as the Corporation’s website, the newspaper named WISCO Workers, and new media called “Happiness WISCO” are adapted to supporting information disclosure of social responsibilities, which demonstratethe Corporation’s responsibility performance in a transparent, objective and real way, and win the understanding and support from the interested parties. The multi-level and multi-aspect communication channels relating to interested parties are established in the Corporation according to the requests and expectations of the interested parties, moreover, the valuable information is sorted, analyzed and refined for choosing the best manner of communication, so as to achieve effective communication with the interested parties and respond to their reasonable expectations and demands.

    The Report indicates in the Corporation environmental protection that WISCO earnestly implements the important environmental protection strategic planning of the Party Central Committee and the State Council and carries out regulations in the new Environmental Protection Law, focusing on promoting “six lifts” such as environmental protection basic management, pollution control level, environmental monitoring and inspecting, environmental protection supervisory efficiency, environmental protection capability and quality, environmental risk control, in addition, each environmental protection indicator is constantly optimized and the environmental protection situation reaches at the best historical level. As a result, WISCO ranks the 3rd in 2015 China’s Iron and Steel Enterprises Green Ratings published by the Iron and Steel Development Green R&D Center.

    In the postscript of the Report, it records WISCO’s social responsibility work plan. The Corporation must grasp accurately and proactively adapt to the new normal in economic development and iron & steel industry in China. It will positively involve in structural reform of supply in iron and steel industry and further arouse vitality by comprehensively deepening reforms, speed up the transformation of development driving force through innovation, improve the quality and efficiency of development by transforming modes and adjusting structure, and make efforts to create a new situation of reforms and development of the Corporation in the new normal.