Since Xi Jinping’s assumption of power in China, the compliance environment has improved substantially. While only a few years ago, some markets were completely out of reach for a compliant European company not willing to engage in corrupt practices, that is no longer the case.
Conversely, the authorities’ enforcement of anti-corruption rules has also increased in intensity, so that most European firms operating there need to perform due diligence on their own operations and ensure that they have no corrupt practices and have fail-safe processes and procedures to ensure total compliance with both Chinese and European (and US) rules.
We are in a unique position to advise our clients in this respect, having witnessed China’s journey from opening up, becoming the Wild East, and now entering a more advanced stage in building a rules-based economy. In this process, we have resolved many delicate compliance cases and accumulated practical experience of required procedures.
