China's Ongoing Anti-Corruption Drive Also Affects Foreign Companies

At the opening of the recent summit on China's Belt and Road Initiative, or BRI, held in Beijing in late April, Chinese President Xi Jinping underscored his administration's commitment to transparency and clean governance, and its zero tolerance for corruption. Xi's declaration comes as allegations of corruption and a lack of sustainability continue to hound some of the country's highest-profile BRI projects. The president aimed to reassure foreign investors, promising that everything should be done “in a transparent way”.

China war against corruption has long been made public, thus underscoring the government's commitment. Only last month, the Supreme People's Procuratorate indicted the former Interpol president, Meng Hongwei, on suspicions of accepting bribes. According to the authorities, Meng abused his power in order to satisfy his family's 'extravagant lifestyle'.