After leaving its anti-bribery laws untouched for more than two decades, the People’s Republic of China has recently begun to crack down on corporate corruption and fraud with sweeping revisions to its Anti-Unfair Competition Law (AUCL), which took effect on Jan. 1, 2018. In addition, the State Administration for Market Regulation (SAMR) was created in March 2018, which combines the regulatory oversight responsibilities of five separate enforcement agencies into one organization.
Since its formation, the SAMR has brought more than 20 enforcement actions, signaling its commitment to curtail bribery, fraud and unfair competition across the country. Given the trade war and the resulting strain between U.S. and China relations currently, U.S. companies operating in China will likely experience more scrutiny and enforcement actions by SAMR. Below are key changes under the amended AUCL, as well as tips for bolstering compliance programs in order to help multinational companies of all sizes navigate and comply with these new regulations.
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