Tougher penalties as China broadens scope of bribery law
“Guanxi”, or networking, is an important part of Chinese business culture, but companies need to be aware that under new rules, that lavish gift could now constitute a bribe.
China this month amended its Anti-Unfair Competition Law (AUCL), expanding the scope of what constitutes bribery, brings in tougher penalties and takes aim at the role of third parties in corruption.
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