The Dream Factory of China

Source :General Office of Qianhai Authority

The city’s justice bureau will provide support to the establishment of an enterprise integrity promotion and compliance governance federation in Qianhai, according to the Guidelines for the Promotion of the Construction of the Urban Compliance System (Draft for Soliciting Opinions) published on the bureau’s official website Aug. 10.

Shenzhen will strive to build itself into a compliance demonstration zone to promote the high-quality development of the city’s economy. It will concentrate on five aspects, including government compliance, corporate compliance, social organization compliance, citizen compliance, and pilot demonstrations in key areas and regions.

In addition to constitute the federation, the guidelines also suggested to introduce Hong Kong, Macao and international professional compliance institutions to the Qianhai Shenzhen-Hong Kong International Legal Affairs Zone, so as to assist and guide Qianhai-based enterprises to conduct self-inspection and self-correction and strengthen their compliance management.

Currently, there are more than 3.76 million commercial entities in Shenzhen, including a large number of multinational, foreign trade and high-tech companies. It is imperative for the city to promote the construction of a compliance system.

It is expected by the local authorities that by 2025, the construction of the urban compliance management system will be basically completed, the government compliance management level will be further improved, the corporate compliance management system will be widely established, the social organizations will form a good compliance and self-governance ecology, the citizens’ awareness of rules will generally increase, and the city’s risk prevention and control capabilities and governance effectiveness will be significantly improved.