Multinational corporations operating in the People’s Republic of China may have assumed that scrutiny of their local operations has become less of a priority now for the PRC authorities. After all, it’s been three years since GlaxoSmithKline, the United Kingdom-headquartered pharmaceutical company, was probed for bribery practices in the highest-profile local investigation of a foreign company to date. Since then, it has been largely Chinese domestic companies that have generated headlines around the murky topic of corruption. However, companies in China may soon find themselves back in the spotlight.
The U.S. Foreign Corrupt Practices Act (FCPA) is still the main anti-corruption statute on the minds of many in-house and compliance counsel of corporations operating in China. But it is no longer the only concern. On the ground in China, it is often local regulations that cause the greatest concern—at least for domestic subsidiaries and local employees of multinationals. In the past year, PRC authorities have taken steps to widen the scope of regulatory enforcement against bribery and corruption. Significantly, such local regulations apply to domestic and foreign entities alike.
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