Abstract
China’s quick economic recovery from COVID-19 has presented a narrow but vast opportunity to build an economy that is cleaner, fairer, and safer. Will China grab this opportunity? The answer rests with both business managers and the government. Based on a questionnaire survey of 1160 owners and managers of companies headquartered in 32 regions of China and covering 30 industries, this paper explores how COVID-19 has impacted Chinese business, especially with regard to the three dimensions of sustainability (economic, social, and environmental). The results suggest that Chinese companies’ sustainability priorities have been shifted towards the social dimension both during COVID-19 and into the post-pandemic phase, regardless of the type of ownership, company size, or market focus (domestic, overseas, or mixture of the two). However, all types of company prioritize the need for economic sustainability in the post-pandemic phase and in relative terms the importance of the environmental dimension has been diminished. Hence the potential for a post-pandemic environmental rebound effect in China is clear. But it does not have to be the case if Chinese businesses and the government take actions to change its recovery plans to embrace the environmental dimension of sustainability. The paper puts forward some suggestions and recommendations for businesses and the government.
Highlights
The new coronavirus (COVID-19) has posed an unprecedented challenge to global sustainable development (SD)
Based on a questionnaire survey of 1160 owners and managers of companies headquartered in mainland China as well as Hong Kong, Taiwan, and Macau and covering 30 industries, this paper explores how COVID-19 has impacted Chinese business, especially with regard to the three dimensions of sustainability and provides an ‘ex-post’ assessment of the post-pandemic situation
This paper aims to explore the impacts COVID-19 may have had on sustainable development in China over both the short-term and long-term from the perspective of business
Summary
The new coronavirus (COVID-19) has posed an unprecedented challenge to global sustainable development (SD). As of December 2020, more than 65 million people have the disease and more than 1.5 million have died from it [1]. Strategies such as large-scale coronavirus screening tests, stringent hygiene protocols, isolation, and social distancing have been adopted by governments worldwide to fight the virus, and these have resulted in significant negative economic impacts in many countries. The whole world has almost been brought to a standstill as economic growth faltered and international transport greatly reduced, on the positive side these have resulted in a significant reduction in global carbon emissions [2]. Other environmental issues such as waste recycling and water contamination have been neglected during the pandemic [2] and new types of pollution have originated from the large-scale manufacture and distribution of COVID-19 protective gear such as face masks [6]
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