China: The Corruption Problem Child


If your company operates in China, I have one piece of “free” advice – conduct an anti-corruption audit and do it now.

Almost one-third of the FCPA criminal cases involve bribery in China. The scenarios are very familiar: a US company enters into a joint venture with a Chinese partner, or a US company establishes (or acquires) a Chinese subsidiary.

Bribery is built into the Chinese economy. It is a remnant of the communist system in which bribery or the “black” market was a way of life. Government employees expected and demanded bribery to provide basic services and/or products. That same mentality pervades the Chinese economy. Foreign companies are attracted to China for lucrative profits. But entrance and operation in the Chinese economy requires bribery of government officials.

Foreign companies entering into China get caught up in bribery in several typical scenarios...

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Michael Volkov, The Volkov Law Group | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.