Over the last eight years, China has cracked down on bribery and corruption, particularly in its investigations and prosecutions of public officials, but what about corporate enforcement?
Corruption, according to Chinese President Xi Jinping, remains the greatest threat to the Communist Party’s survival, and according to Transparency International’s Corruption Perceptions Index 2018, which was published in January this year, China was ranked 87th out of 180 countries in its perceived levels of corruption, a decline by 10 places compared with its 2017 standing.
To allay his fears, Jinping has spearheaded widespread and sweeping anti-corruption campaigns, with the Chinese government approving a broad government restructuring plan, which is generally considered to be the most comprehensive government restructuring that the country has undertaken since it implemented its ‘Open Door’ policy in 1978.