Anti-bribery legislation is always a big concern for Chinese market players. On 4 November, 2017, the Standing Committee of the National People’s Congress (NPC) adopted the amended and restated Anti-unfair Competition Law (new AUCL), which will come into force as of 1 January 2018. This is the first revision to the existing AUCL since its implementation in 1993. Under the new AUCL, legal provisions on commercial bribery have been significantly revised.
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HHP Attorneys-At-Law
According to paragraph 1 of article 7 of the new AUCL, a business undertaking is prohibited from bribing any of the following entities or individuals by giving cash or property, or taking other means for the purpose of seeking transaction opportunities or competitive advantages:
(1) employees of a transaction counterparty;
(2) entities or individuals entrusted by a transaction counterparty to handle relevant affairs; and
(3) other entities or individuals who take advantage of their position, or power, or influence, to impact transactions.
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Yao Rao is a partner at HHP Attorneys-At-Law in Shanghai
HHP Attorneys-At-Law
12F, 21st Century Tower, 210 Century Avenue
Pudong New Area Shanghai 200120, China
http://www.hhp.com.cn
Contact details:
Tel: +86-21-5047 3330
Fax: +86-21-5047 0264
Email: yao.rao@hhp.com.cn
