China to release blacklist for corporate bribery

China is developing a blacklist on which it will place manufacturers of medical products that have been charged with, sued for, or investigated in connection with bribery.

Companies that land on the list will reportedly be banned from operating in the province where they were accused, while those firms that make the list twice in any five-year period could get a two-year national ban.

Both GlaxoSmithKline (GSK +0.9%) and Danone SA (DANOY +1.5%) have been variously accused in China.

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Comments (6)
  • Dantes_Will
    , contributor
    Comments (409) | Send Message
    Who wants to bet the Chinese blacklist will be essentially all foreign companies?


    And how much do the Chinese companies have to bribe to get off this list?


    This is about as trustworthy as Al Capone auditing his own businesses to prove they're on the up & up.
    27 Dec 2013, 02:44 PM Reply Like
  • mountaintop
    , contributor
    Comments (74) | Send Message
    You get on the list if you failed to pay the top guys first.
    27 Dec 2013, 04:42 PM Reply Like
  • LostOkie51
    , contributor
    Comments (287) | Send Message
    This would be hilarious if it wasn't so pathetic!
    Anyone who has ever done business in China knows that you either pay the bribes or you don't do business. Bribes are so interwoven into the business climate here there is no attempt even to hide them. They are right out in the open for all to see. You pay the bribes, , or you pick up your marbles and go home. Just that simple.


    And yes, the comment above is right on.
    Wait and see, , the list WILL be for the most part all foreign companies.
    I'll take any and all bets on that.
    27 Dec 2013, 08:01 PM Reply Like
  • Tactical Technician
    , contributor
    Comments (146) | Send Message
    China is what capitalism is all about.
    28 Dec 2013, 12:03 AM Reply Like
  • justin L
    , contributor
    Comments (48) | Send Message
    This list might be part of the new anti corruption wave that's moving inside the communist party recently. A lot of top government officials is getting pull down during these past few weeks.
    The new Xi government probably won't touch those senior influential big dogs, but can at least scare those on local and province level. And yes bribery is very common in china, but i don't think only foreign companies will suffer.
    28 Dec 2013, 05:30 AM Reply Like
  • cichlidae
    , contributor
    Comments (2) | Send Message
    who watches the watchmen
    28 Dec 2013, 10:05 PM Reply Like
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