Visiting Secretary-General of the United Nations (UN) Kofi Annan addressed a symposium in Beijing Monday, encouraging Chinese enterprises to shoulder their social responsibility and make the world a fairer and safer place. The UN chief set forth the ideas of Global Compact to more than 30 Chinese entrepreneurs and had an exchange of views with them on the role of business community in securing world peace and development.

Annan recognized Chinese enterprises' efforts in helping eliminate poverty and illiteracy and in boosting international cooperation.

Initiated by Annan at the World Economic Forum in January 1999 and formally established one year later, the Global Compact aims to team up business and labor leaders to make the world more stable and secure.

Over the past four years, the Compact has encompassed more than 1,500 businesses from 70 countries. It also includes the major international labor federations, representing more than 150 million workers worldwide.

By June, a total of 34 Chinese enterprises, including China Petrochemical, the Shanghai Baogang Steel Group and Haier have joined the compact.

(Xinhua News Agency October 12, 2004)