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China eyes cross-border corruption law. Will it blunt the ‘long arm’ of the West?
Beijing to pass law aimed at preventing corruption by Chinese companies operating overseas after courts recover billions in illegal gains
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China will enact a law to combat cross-border corruption this year, according to the top legislature’s work report released on Monday – a move aimed at preventing corruption by companies overseas, which some experts said could shield them from foreign “long-arm jurisdiction”.
The work report, submitted by the National People’s Congress (NPC) Standing Committee to the fourth session of the 14th NPC for deliberation, provided no details or specific timeline for the legislation. The law is expected to step up China’s anti-corruption work overseas, targeting fugitives and illicit assets abroad, as well as corruption involving overseas businesses.
It will be drafted by the Central Commission for Discipline Inspection, China’s highest political disciplinary and anti-corruption agency.
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