Review on the Impact of Corporate ESG Practices on China's Economy and Society

ESG has become a popular topic in the current international community, and it is also an important direction and perspective for academic research at home and abroad. There are many empirical studies on ESG, but few review literatures. Based on the methods of literature research, comparative analysis, and historical research, this paper sorts out and summarizes the existing Chinese literature on ESG and its connotation, corporate performance, corporate governance, macroeconomic transformation, and ESG localization. The results show that ESG practices positively correlate with corporate financial performance, and good corporate governance helps improve corporate management. In addition, ESG is conducive to improving corporate resource utilization efficiency, promoting corporate green transformation, helping enterprises cope with economic transformation challenges, promoting China's social transformation, and building a localized ESG system.