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China Strengthens Legal Framework Against Cross-Border Corruption
(MENAFN) China’s top legislative body begins examining a proposed law designed to strengthen the country’s ability to tackle corruption cases that cross national borders, according to reports.
The draft legislation is presented for its initial review during a meeting of the Standing Committee of the National People’s Congress. It outlines the basic principles, areas of application and major measures intended to expand China’s efforts against corruption involving foreign jurisdictions.
The proposed law also establishes procedures and institutional responsibilities for handling such cases, while seeking to improve coordination with international partners. Its provisions are intended to make investigations and prosecutions more effective, particularly when authorities face difficulties in identifying wrongdoing, gathering evidence, recovering illegally obtained assets or securing convictions.
The legislation consists of six chapters containing 47 articles and places additional compliance responsibilities on Chinese companies conducting business overseas.
"obliges domestic firms operating abroad to adopt rigorous compliance standards, fostering a market-oriented, law-based and internationalised business environment," the report said.
The proposed framework comes as China continues developing its broader anti-corruption system under President Xi Jinping. According to reports, the country’s mechanisms for addressing corruption involving foreign jurisdictions have expanded considerably over the past decade as part of the government’s extensive anti-graft campaign.
The new legislation is expected to provide authorities with broader legal instruments while strengthening international cooperation in the investigation and prosecution of cross-border corruption.
The draft legislation is presented for its initial review during a meeting of the Standing Committee of the National People’s Congress. It outlines the basic principles, areas of application and major measures intended to expand China’s efforts against corruption involving foreign jurisdictions.
The proposed law also establishes procedures and institutional responsibilities for handling such cases, while seeking to improve coordination with international partners. Its provisions are intended to make investigations and prosecutions more effective, particularly when authorities face difficulties in identifying wrongdoing, gathering evidence, recovering illegally obtained assets or securing convictions.
The legislation consists of six chapters containing 47 articles and places additional compliance responsibilities on Chinese companies conducting business overseas.
"obliges domestic firms operating abroad to adopt rigorous compliance standards, fostering a market-oriented, law-based and internationalised business environment," the report said.
The proposed framework comes as China continues developing its broader anti-corruption system under President Xi Jinping. According to reports, the country’s mechanisms for addressing corruption involving foreign jurisdictions have expanded considerably over the past decade as part of the government’s extensive anti-graft campaign.
The new legislation is expected to provide authorities with broader legal instruments while strengthening international cooperation in the investigation and prosecution of cross-border corruption.
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