CHINAUS EUROPEASIA 中文双语Français
Home / Macro

China toughens penalties for dishonesty in overseas deals

Xinhua | Updated: 2017-11-29 13:23

BEIJING - China will strengthen supervision of businesses involved in cross-border economic activities, an official document said.

Dishonest businesses will face restrictive measures on loan guarantees, insurance rates, bidding and procurement, according to guidelines issued recently by 28 government departments including the National Development and Reform Commission (NDRC).

Sectors under scrutiny include overseas trade, investment and financial cooperation.

Taking outbound investment as an example, discreditable behavior includes breaking approval rules, falsifying information and cheating on capital transfers.

A credit record will be set up, with credit-loss corporate activities tracked and published.

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US