Participating in the Belt and Road Initiative, Protected from Overseas Compliance Risks
摘要
On May 14th and 15th, the Belt and Road Forum for International Cooperation was held in Beijing, which once again put the city at the centre of global attention. China is a founding member of the Belt and Road (“B&R”). It already has more than 80 state-owned enterprise (SOEs) setting up branches in countries along the B&R and 47 SOE’s participating in 1676 construction projects. The B&R presents both opportunities and challenges to Chinese enterprises. Chinese firms will need to meet high standards to avoid breaching compliance requirements. Most countries along the B&R are developing countries in economic transition. They are high-risk zones for compliance issues. Chinese enterprises participating in the B&R Initiative will need to uphold the host countries’ legal regulations, the United Nations Convention against Corruption, and international organizations’ anti-corruption regulations. This makes the regulatory environment diverse and complex. In summary, both domestic and international communities are calling for better compliance governance from Chinese enterprises.
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