Understanding China's Approach to Anticorruption
Multinational companies with substantive connections to the United States have long established systems to comply with the requirements of the U.S. Foreign Corrupt Practices Act (FCPA). In addition, many multinationals also have systems to comply with the anticorruption laws of the respective host countries where they operate (in particular, the UK Bribery Act and the EU Criminal Law Convention on Corruption). Fewer companies, however, have developed and put in place compliance systems designed specifically to ensure compliance with Chinese anticorruption laws. With the increased focus by Chinese regulators on anticorruption enforcement, companies must work to understand Chinese anticorruption law and take appropriate remedial measures in response.
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