(CSRwire) This week Renmin (The People’s) University of China in Beijing was host to the inaugural meeting of the China Business Leaders Forum (CBLF) – a new business-led initiative to bring together leaders of businesses (both domestic and foreign) operating in China to improve business practices with particular emphasis on business transparency standards and practices. Over 70 business representatives from 50 organisations attended the event.

The CBLF is a partnership between the School of Public Administration of the Renmin University of China and the London based international not-for-profit business organisation, The Prince of Wales International Business Leaders Forum (IBLF).

The IBLF is an international business leadership organisation with 15 years experience of inspiring business to engage in development and responsible and sustainable business practices. Currently the IBLF is supported by almost 100 global companies including Alcan, BP, Coca-Cola, Cisco Systems, Mitsubishi and Volkswagen.

Founded in 1937, the Renmin University of China is one of the leading academic institutions in China, preparing future business and public sector leaders.

Speaking after the launch event, IBLF’s Director of Corporate Policy and Practice, Peter Brew, said “The launch of the China Business Leaders Forum recognises the growing awareness of businesses in China of the importance of improving transparency and business standards and the commitment of the Chinese authorities to strengthen the environment within which business operates. CBLF provides a forum within which both domestic and foreign companies can share knowledge and exchange information in a safe haven, something that was warmly welcomed by all meeting participants. It was agreed that facilitating this important dialogue should continue to be a priority if business in China is to avoid the pitfalls potentially presented by corruption and irresponsible practice.”

The launch of CBLF was the natural outcome of some 2 years of preparatory work by IBLF and its partners, during which an agenda of key corporate governance issues to be addressed was identified and the active support of the business community was secured.

The newly formed China Business Leaders Forum will seek to improve the business conditions for all companies operating in China by:

Developing tools to assist company managers in the implementation of business transparency standards.

The first three-year’s action programme of CBLF is being funded by the Global Opportunities Fund of the UK Foreign and Commonwealth Office and by a group of international companies. The expectation is that over this period the CBLF will develop into a local organisation funded by its members.

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