Legislative Orientation of Chinese Regulation of Transnational Corporations' Corruption in China

Abstract

With the acceleration of China's opening-up, the number and scale of multinational corporations' investment projects in China are constantly increasing. However, in order to obtain greater benefits in the Chinese market, some multinational corporations choose to seek illegitimate commercial interests through bribery. The increasing corruption cases of transnational corporations have bad influences on China's economic development, business environment and international reputation. However, there are still many deficiencies in China's legal system to regulate the corruption of transnational corporations. This paper will study the legislation on transnational corporations’ corruption in China, and put forward more effective suggestions for China to regulate the corruption of transnational corporations in legislation. This paper will analyze the current anti-corruption legal system against transnational corporations in China and other countries, and use the method of comparison and case study to find deficiencies in Chinese laws. Through the analysis, it is concluded that China should formulate a special Anti-commercial Bribery Law in order to improve the legislation in relevant fields.