Compliance as Credit

Dec 13-2018   

The first question to ask, when your company engages in sales or M&A with another domestic or foreign company, should be: Has the target company put in place a compliance management system? That’s the advice from Mr. Guo Nan, member of the Compliance Expert Committee of China Corporate Compliance Alliance and previously compliance officer at BP Asia Pacific and Siemens China. Invited by Langrun Sharing, a student initiative for knowledge sharing, his speech walked BiMBA students through the framework, practice and latest developments of corporate compliance. “Compliance has gradually become a kind of credit system governing the relationships between enterprises, domestic and foreign alike,” he said. One important development is that in July this year the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council promulgated a directive on the compliance management of SOEs under the central government.