This paper offers a modified theoretical approach towards corporate social responsibility (CSR), adjusted to the specifics of South-South cooperation (SSC). Developing economies are becoming important actors and the number of their companies willing to implement projects in other developing nations is rising. This entrance of developing countries into international projects poses a question whether their companies adhere to basic CSR obligations and their CSR approaches are strategically oriented or if they present an umbrella, covering up their activities. Though the issue of CSR in SSC projects attracts attention, the number of studies on this topic is limited. This paper presents an attempt to work out a theoretical basis to a CSR approach in SSC projects by adjusting a widely accepted CSR model of Carroll (1979, 1991) to the specific conditions of developing economies. For the purpose of this paper, the authors analyzed CSR activities of Chinese companies in Angola. The results lead to the conclusion that governments of countries, participating in SSC projects need a more active approach towards making basic CSR responsibilities (economic, ethical, legal) legally binding. This will allow such international projects to be more beneficial not only for directly interested parties (companies, governments), but also for the local community.