In China, as in other countries, ESG factors are becoming more and more important in the investment discourse and, in particular, in the reporting of public companies. However, if factor E (environmental) is actively discussed both within public companies and by the Chinese government, then reporting on factors S (social) and G (governance) is still in its infancy, since it must be borne in mind that the Chinese private sector is in in conjunction with the official rhetoric of the Chinese government, and the difference in the perception of social and managerial factors between Chinese business and Western companies determines the inconsistency of Chinese reporting with Western standards. This article analyzes the use of ESG principles by Chinese companies, the impact of decarbonization on China’s Belt and Road investment project, as well as China’s international cooperation on decarbonization and ESG principles.