Companies with convictions for commercial bribery offences and certain other illegal activities can now be added to a blacklist published in the Enterprise Credit Information Publicity System, provided by the State Administration for Industry and Commerce (SAIC). Companies on the blacklist can be sanctioned to operational and licensing restrictions, which can severely restrict their business operations.
These restrictions are set out in the SAIC’s recently issued Interim Measures for the Administration of the List of Dishonest Enterprises Committing Serious Illegal Activities, which takes effect on 1 April 2016.
Business Law Digest is compiled with the assistance of Baker & McKenzie. Readers should not acton this information without seeking professional legal advice. You can contact Baker & McKenzie by e-mailing Danian Zhang (Shanghai) at: [email protected]