China’s SAMR published a draft amendment to the Anti-Unfair Competition Law, which overhauls the commercial bribery provisions for giving, instructing, and accepting bribes.
Key Points: In summary, the proposed commercial bribery provisions under the Draft Amendment:
..Explicitly clarify that “counterparties in transactions” are within the scope of bribe recipients, increasing risks for companies that are not explicitly accountable under the current AUCL.
..Specify that instructing others to give bribes constitutes an offense of commercial bribery (the current AUCL does not provide a clear rule).
..Prohibit and specify penalties for acceptance of bribes, which are not prohibited under the current AUCL.
..Increase the maximum fine for both accepting and giving commercial bribes, from CNY 3 million to CNY 5 million.
Please see full publication below for more information.
