China's First Anti-Commercial Bribery Blue Book came out
2015/1/18 E药经理人

     China's Company Legal Affairs Institution and LexisNexis Group jointly published the China's First Anti-Commercial Bribery Blue Book in January, 2015. This book analyzed the risk points of the internal management in companies and pointed out that more strict law enforcement can push the proceeding of anti-commercial bribery. More importantly, the private companies could be the target because of their conventional procedures.

     In the history of China's anti-commercial bribery, the most famous cases are related directly to pharmaceutical industry. The FCPA has become a must-to-know law in both Chinese commercial and legal circles. This law is applicable to the government officials outside the US, including China. In 2014, GlaxoSmithKline (GSK) was fined 3 billion yuan for breaking the anti-commercial law of China. Multiple senior supervisors including its China's CEO were sentenced to two to four years in prison. This is the largest ticket China has ever written to a company which breaks the law.

     So here comes a series of questions. Will GSK case initiate a new era of China's anti-commercial bribery? Are Chinese companies ready for this new era? Are the already established protocols under the FCPA in MNCs enough for coping with China's new anti-commercial bribery tide? With so many pressures already on their plates, should the domestic private companies distribute more to the compliance construction? What kind of industries are the most possible targets to be taken down?

    

    

    

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