Linworld's 10th China International Anti-Corruption Compliance Summit 2023
October 26-27 2023 witnessed the success of Linworld 10th China International Anti-Corruption Compliance Summit 2023 in Shanghai Marriott Hotel Hongqiao, Shanghai, China. During the two days event, over 40 top speakers from Shanghai Market Supervision Administration, Siemens, IHG, Bosch, Dow Jones, BBC, EY, KPMG, PwC, Deloitte, Morgan, Lewis & Bockius, KWM, Trace International, SIG, HSBC, Junhe, Fangda Partners, Zimmer Biomet, LyondellBasell, GSK, Cargill, Convatec, La Prairie, Henkel, Ecovacs Robotics, DSM, Takeda, etc., gave their practical insights in how to enforce compliance systems when bribery schemes was getting more and more sophisticated.
China is opening the wider door to the world, meanwhile, the Chinese central government show unprecedented emphasis to the corporate anti-bribery compliance. In that case, the establishment of well-organized compliance systems became a top priority to local and multinational companies operating in China. Within that context, ACC Shanghai came up to promoting the developments of anti-corruption corporates compliance systems in China.
The below four parts are main subjects for this event.
Part One: Deep interpretation of multi-jurisdictional anti-corruption laws and anti-money laundering laws, etc. Speakers from Shanghai Market Supervision Administration, Morgan, Lewis & Bockius LLP, Fangda Partners, Dentons, KWM and Junhe went deeply into the World Bank anti-bribery framework, FCPA, UKBA, China New-Unfair Competition Law, Anti-sanction Law, Anti-Money Laundering Law, Data Security Law, Personal Information Protection Law, New Draft Rule on Cross-Border Data Transfer and enforcement trends by policy updates and real case studies.
Part Two: Firsthand experiences from industry leaders. The risk management mechanism from Siemens, Compliance Digitalization Practice & Thinking from Dow Jones, Best practices in third party diligence from LyondellBasell, Dealing with Dawn Raid from SIG, Corporate Internal Control and Investigation from a pnael of AnJie Law Firm, SUEZ, BBC Studios and Cordis. All these sections evoked lively discussions and aroused strong sense of resonance between attendees and speakers. “Useful knowledge sharing and good oppotunity for networking and ideas and best practices exchanging”, the comment comes from some delegates.
Part Three: How to use new technology to help fight corruption and other risks. In this section, in-house counsel from Ecovacs, HSBC, Tyson Foods, IHG, top lawyers from Reed Smith, Zhonglun, and leading experts from Ernst & Young, PwC, KPMG, Deloitte sat together to discuss how to use ISO37301 and latest technology such as AI, machine learning, big data, dashboard, Chatgpt to help fight corruption and how to deal with China’s New Cybersecurity Law. As a conclusion, adopting technology in your compliance process offers a variety of benefits that, ultimately, outweigh the initial costs of implementation and maintenance. These benefits include enhanced accuracy, increased efficiency, scalability, real-time monitoring, cost savings, and the ability to stay up-to-date with evolving regulations, etc. As organizations strive to navigate the complex compliance landscape, leveraging technology-driven solutions becomes not just a cost-effective choice but a strategic imperative for long-term success.
Part Four: Culture of compliance journey, industry veterans from DSM, Cargill, Henkel, Accenture, Takeda, Johnson Matthey shared their experience in how to truly enable employees to accept compliance culture and implement it practically in their own initiative and how to promote a speak-up culture in China. Building a compliance culture within an organization lays the foundation for ethical practices and responsible behavior. It’s not just about ticking off boxes and meeting legal requirements; it’s about fostering a shared mindset that values integrity, transparency, and accountability.
Over 95% of attendees provided positive feedback to the event and expect to attend next one so that they can get another chance to learn from governmental officials, elite lawyers, compliance veterans and top partners from Big Four. Several foreign participants commented: “we feel very good to attend this well-organized summit, especially it get simultaneous translations and gathered so many international and world-famous companies.”
Although the two-day’s 10th China International Anti-Corruption Compliance Summit 2023 is closed, however the discussion of the above-mentioned topics is still going on. Linworld Group will continue to make efforts to provide platform to those who are interested in learning more about the developments of anti-corruption compliance trends in China, Asia and globally. We strongly believe that general counsel, chief compliance officer, internal auditor, management team and other finance, HR and risk control professionals across all industries around the world will benefit a lot after attending our summit.
