While the Chinese government has been very active in
issuing new regulations over the last 12 months, there is still
much uncertainty about how these will be enforced. Here are some
compliance tips you can implement to set yourself up for a smooth
transition and guard yourself against potential
problems.
1. Do thorough background checks
Are you sure all third parties you deal with operate with good
compliance standards? It pays to do exhaustive due diligence on
suppliers, customers, or partners to ensure they will not be
investigated.
This is important for existing and new contacts and when
acquiring a new asset, such as a company or production site. While
your business may be clean and transparent, any third parties you
deal with could be engaging in illegal behaviour, even if they seem
fine.
