COSCO Sustainable Development Report 2005

For many years, COSCO Group has been rewarding the society with its practical actions. It has been actively engaging in public welfare and charity activities and has been providing assistance to people in difficulty and poverty, which the group has taken as an important mission. From 1995 till now, the group has sent over 20 persons and invested RMB60 million to help Fugong County in Yunnan Province, Luolong County in Tibet, Yanshan County and Haixing County in Hebei Province to escape poverty. The assistance projects cover various fields including traffic, urban construction, education, science and technology, sanitation, talent training, labor export, etc. With the investment in these projects, COSCO has made great contributions to help local resident get rid of poverty and cultivate poverty relief capability.? In December 2005, COSCO Group collected RMB100 million to set up the COSCO Charity Foundation, the first enterprise-initiated charity foundation in Mainland China. Following the establishment of the foundation, the group has been actively expanding the scope of charity projects, ceaselessly enhancing project management, improving management level and work efficiency, and has made certain achievements in system resource integration, project development and management, etc.

Group’s donations in recent years

Year	Donating unit	Purpose of donation	Donation amount
2003	COSCO Group	Frontline medical staff for SARS epidemic	6 million yuan
2004	COSCO Group	Tsunami-hit areas in Southeast Asia	10 million yuan
2005	COSCO Charity Foundation	Poverty-stricken areas in Tibet and Hebei	16.25 million yuan
2006	COSCO Charity Foundation	Poverty-stricken areas in Tibet and Hebei	16.95 million yuan
2006	COSCO Charity Foundation	Joining the “Program of Tomorrow” initiated by Ministry of Civil Affairs, donating to help cure orphans suffering inborn heart disease	One million yuan
2006	COSCO Charity Foundation	Donation to Huayu Fund	Two million yuan
2006	COSCO Charity Foundation	Assisting poverty-stricken students in Peking University to complete study	300,000 yuan
Sum			52.5 million yuan

The Red Cross Award Medal issued by China Red Cross for COSCO Group.

The tablet of Philanthropy issued by China Red Cross for COSCO Group.

COSCO Group’s conception in social responsibility has influenced and educated its staff, the social responsibility consciousness of which has been increasingly improved. They have volunteered to engage in public welfare activities, and launched and participated in assistance activities, and have established their own system. Based on the platform of the COSCO Charity Foundation, employees will continue their donation as planned and for long term.

For instance, while providing poverty relief assistance in Luolong County, Tibet, COSCO employees volunteered to donate 15,500 yuan to five Tibet students who were too poor to continue their education. Their voluntary activity has been highly praised by the government of the county. These employees have not only provided financial assistance for poverty-stricken students, but also driven the forming of good social order of respecting teachers and stressing education as well as willing to help others.

Part of donation made by employees of COSCO and its subsidiaries