Comparative Study Of Corporate Philanthropy Into Chinese And British Banking Industry

Philanthropy is the supplement of Social Security System and Social Assistance System.Corporate Philanthropy Responsibility is an advanced Corporate Social Responsibility. Thedeveloping and expanding of contemporary corporate philanthropy is on the basis of the culture andpolitical background, the level of economic development and the laws and regulations in onecountry.Banking industry is a fundamental and pillar industry of one country’s economic andfinancial development. The revenue and the retained profit, the concept of corporate culture andcharity of the banks are all developed and advanced. This article critically analyses the corporatesocial responsibility reports (or sustainability reports) of three Chinese banks and three UK banks.The three Chinese banks are Industrial and Commercial Bank of China, China Construction Bankand Agriculture Bank of China. The three UK banks are HSBC Bank, Lloyds TSB Bank, and RoyalBank of Scotland.This article compares the corporate culture, philanthropy conception, total donation amountand the usage of the donations between theses banks, in order to explore the generality andindividuality between Chinese and UK banks even other corporations. The shortages of Chinesebanks are low donation level, lack of having partnership with civil charities, lack of investment inenvironment protecting and health and medicine, and imperfect legislation. The suggestions ofimproving corporate philanthropy in Chinese banking industry and other types of corporations are:developing charity networks and building partnership with charity organizations, promotingphilanthropy concept and establishing the notion of ‘corporate citizenship’, and perfecting charitylaws and regulations. According to this, corporate philanthropy could contribute to the HarmonySociety.