China’s top legislature passed on Friday a landmark law targeting cross-border corruption, equipping Beijing with expansive new tools to pursue illicit offshore assets while countering foreign attempts to investigate wrongdoing in China. The Anti-Cross-Border Corruption Law was approved at the close of the 25th session of the 14th National People’s Congress Standing Committee (NPCSC) and took effect immediately, according to the state news agency Xinhua. The statute establishes formal mechanisms...
New anti-corruption law arms Beijing with expansive global enforcement powers
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SCMP - Feed 91By William Zheng
EXECUTIVE SUMMARY
China’s top legislature passed on Friday a landmark law targeting cross-border corruption, equipping Beijing with expansive new tools to pursue illicit offshore assets while countering foreign attempts to investigate wrongdoing in China. The Anti-Cross-Border Corruption Law was approved at the close of the 25th session of the 14th National People’s Congress Standing Committee (NPCSC) and took effect immediately, according to the state news agency Xinhua. The statute establishes formal mechanisms
Key Takeaways
- New anti-corruption law arms Beijing with expansive global enforcement powers.
- The statute establishes formal mechanisms...
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Published originally on SCMP - Feed 91
