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Corruption Law and Practices in China:Implications for Business Management of Foreign Enterprises

Wiboon Kittilaksanawong

  The number of foreign companies doing business in China has increasingly grown each year.While the legal jurisprudence in most developed countries mostly strives to make the statutory language clear as to what conduct is prohibited and what is allowed by law,Chinese statutes are often structured along with Chinese social norms,customs,mores,and regional interpretations.Foreign businesspeople and their legal counsel in China under such legal environment have increasingly faced the dilemma of international bribery associated with the Chinese corruption law and practices.Despite Chinese government has been working very hard to curb corruption,a number of initiatives remains not fully effective due to the potentiality of undermining the supremacy of the ruling communist party and the use of corruption as a method of compensation to serve the party s economic and political goals.This paper discusses the Chinese corruption law and associated dilemmas viewing from the government and the business through the mechanisms of measuring and monitoring of the economic performance.Essentially,the paper provides recommendations for the foreign companies to sustain and grow their business in China.……   
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