Abstract
The B&R Initiative is a strong drive for Chinese firms venturing into more than 60 foreign countries. The risk and risk management of these B&R investment attracts increasing attention inside and outside China. This chapter focuses on why and how Corporate Social Responsibility (CSR) can be a tool to mitigate risks for Chinese firms involved in the B&R Initiative. The rational for CSR as a tool to mitigate the B&R risk is established, followed by the guidance of its implementation. The CSR performance of Chinese firms oversea is then discussed with a case study of Thailand. Trough qualitative analysis on the interview and observation notes, a 4i model is constructed as a framework to describe the CSR of Chinese firms in Thailand. Their practice and performance are described though four dimensions: “Intension” (How CSR is positioned in the firm?); “Involvement” (How stakeholders are involved in CSR activities?); “Intervention” (What CSR activities are conducted?); and “Impacts” (How CSR activities impact the firm?). It shows that many Chinese firms have understood and indeed engaged in CSR activities oversea. They are advised to move form “philanthropy” level towards “compliance” and “strategy” level of CSR. CSR is a critical factor to B&R Initiative as it is a license for Chinese firms to operate & thrive, a pillar of soft power of China in the world.