There have been several recent developments impacting Australian business in China.
As China looks to internationalise and open up its markets, the Chinese Government is determined to stamp out corruption with a campaign underway to rid the country of commercial bribery. As such, multinationals in China are now at particular risk of investigation and serious fines under China’s competition laws, causing many foreign firms to re-evaluate how they do business in China.
Firms are operating at a heightened compliance risk include those who utilise third party intermediaries, interact with government officials or deal with State-owned enterprises.
Record fines and unprecedented investigations into bribery and competition violations signal a clear message to multinational firms to re-evaluate how they do business in China.
In their recent article in our Regulator newsletter, Partners Martyn Huckerby and David Tiang outline key recommendations for safely navigating the new business landscape in China.
Read their full article here.