BEIJING, Nov. 24, 2014 /PRNewswire/ -- Transparency, due process and rule of law are among the issues tackled in a new report on compliance released today by the American Chamber of Commerce in China. Titled "Compliance in China: Addressing Regulatory and Operational Challenges," the latest report in the Policy Spotlight Series reflects AmCham China members' views on the challenges of compliance with applicable laws and regulations when operating in China. An event today also marked the launch of an AmCham China Compliance Working Group, bringing together the chamber's members to engage on issues of related to complying with local and international laws.
"China's legal system will play an increasingly important role as the country develops, so it is no surprise that the rule of law, and related compliance issues, are rising in importance among both the authorities and our members," said AmCham China Chairman Gregory Gilligan. "It isn't yet clear what impact the Fourth Plenum, where the central theme was rule of law, will have on business in the short term, but one thing is for sure: This topic will remain central to not just our members' success, but to the success of the whole reform process."
AmCham China understands the need for its member companies to abide by the established laws of both countries, and to comply with the laws and regulations applicable to their industries. The report released today is intended to provide input of both a policy and practical nature to the broader community and to identify specific challenges in regard to compliance for both the Chinese and US governments. It introduces the broader complications for compliance in China -- issues of rule of law, transparency, and due process -- as well as focusing on specific issues that are of concern to our members and their operations:
- Anti-Monopoly Law Compliance
- Business Partner Compliance
- Customs Compliance
- Data Privacy Compliance
- Foreign Corrupt Practices Act Compliance
- Labor Law Compliance
- National Product Standards Compliance
- Small Enterprise Compliance
- Tax Compliance
Please visit the AmCham China website to download the full report.
About AmCham China:
The American Chamber of Commerce in the People's Republic of China (AmCham China) is a non-profit organization which represents US companies and individuals doing business in China. AmCham China's membership comprises more than 3,800 individuals from over 1,000 companies. It has more than 50 industry- and issue-specific forums and committees, offers unique services such as the Business Visa Program, holds a wide range of networking and informational events, and meets with US and Chinese officials to discuss challenges and opportunities facing US firms doing business in China. The Chamber's mission is to help American companies succeed in China through advocacy, information, networking and business support services. For more information, visit: http://www.amchamchina.org.
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SOURCE The American Chamber of Commerce in the People's Republic of China