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​China issues guideline for compliance management of firm going global

Xinhua Financein en.silkroad.news.cn
2019-01-04 15:45

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Chinese authorities have recently unveiled a guideline for compliance management of domestic enterprises during their "going global".

The guideline is aimed at serving as a reference for the enterprises going global to help strengthen their awareness of the compliance management and enhance their overseas management level.

In recent years, the Chinese enterprises have followed the market-oriented principles and international practices to carry out transnational economic cooperation and actively fulfill social responsibilities, which has not only promoted the international development of enterprises themselves, but also promoted mutual benefit and common development of China and other countries concerned, said relevant official of the National Development and Reform Commission (NDRC).

However, a few domestic enterprises have not strengthened their awareness of compliance management, while doing business overseas, the official added.

It is reported that the guideline especially puts forward compliance requirements for the enterprises' four major activities, such as foreign trade, overseas investment, foreign contracted projects and overseas daily operations, while emphasizing the whole-process and all-round compliance of the overseas business activities.

To prompt the enterprises to strengthen compliance management overseas, the NDRC will conduct compliance management training programs, strengthen public information services, optimize the compliance business environment and improve the disciplinary mechanism for violations in the next step, according to the official. 
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