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China Passes Cross-Border Corruption Law, Expanding Anti-Graft Drive
The law expands probes, asset recovery and corporate compliance rules for Chinese firms with overseas operations, Reuters reported.
- On Friday, November 6, the Standing Committee of the National People's Congress passed the Anti-Cross-Border Corruption Law, designed to curb illicit asset flight and enhance investigations into corruption involving overseas operations.
- Tackling corruption remains a signature theme of President Xi Jinping's leadership, with this legislation broadening Beijing's capacity to track fugitives and recover illicit assets while strengthening international cooperation.
- The legislation mandates that Chinese companies conducting international business establish anti-corruption compliance functions proportionate to their size, business activities, and risk exposure, according to state news agency Xinhua.
- Operating in Africa, Chinese companies now face increased scrutiny under these requirements, particularly significant as the China-Africa commercial relationship has reached a record $348 billion in trade.
- While the law creates new avenues for cooperation, it does not grant Beijing automatic jurisdiction over African public officials or replace existing anti-corruption laws of African countries.
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19 Articles
19 Articles
China’s Anti-Cross-Border Corruption Law gives Beijing new powers to pursue corruption abroad, putting its $348 billion Africa trade relationship under scrutiny
China has adopted a new law targeting cross-border corruption, expanding Beijing’s ability to pursue illicit assets and investigate corruption cases involving overseas operations as its commercial relationship with Africa reaches a record $348 billion.
·New York, United States
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The new anti-corruption law arming Beijing with wide global enforcement powers
China’s top legislature has passed a landmark law targeting cross-border corruption, equipping Beijing with expansive new tools to pursue illicit offshore assets while countering foreign attempts to investigate wrongdoing in China.
·Hong Kong, Hong Kong
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(Beijing=Yonhap News) Correspondent Han Jong-gu = China is intensifying its pursuit of corrupt criminals who have fled overseas and hidden assets, and [regarding] the losses arising from corporate overseas business...
·Seoul, Korea (the Republic of)
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Coverage Details
Total News Sources19
Leaning Left4Leaning Right3Center4Last UpdatedBias Distribution37% Left, 36% Center
Bias Distribution
- 37% of the sources lean Left, 36% of the sources are Center
37% Left
L 37%
C 36%
R 27%
Factuality
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