Report alerts Chinese firms to international anti-corruption rules

China released the first report on international rules and common practice on combating corruption to the country's corporate sector Tuesday.

The report, Go Global: International Business Anti-Corruption Rules Research, is the first to be jointly presented by the Bank of China, the International Chamber of Commerce (ICC), the China Chamber of International Commerce and Renmin University of China.

The report marks the beginning of international cooperation among non-governmental sectors in fighting corruption as more Chinese companies go global.

Corruption has become the biggest stumbling block for local corporations to expand their business abroad, according to the report.

"Corruption slows the growth of China's companies, and this could have been avoided if companies understood the international business environment and regulations," Chen Yulu, president of Remin University of China, said Tuesday.

Twelve Chinese enterprises were blacklisted by the World Bank in recent years over allegations of corruption, Zhang Yanling, former deputy governor of the Bank of China, who led the drafting of the report, said Tuesday.

The report also quoted research from the Ministry of Commerce to remind local firms to be aware that local corruption could impact the international reputation of Chinese firms.

Among 74 companies investigated and punished for corruption in America, 24 cases took place in China. These included well-known multinational corporations like Siemens and IBM.

Anti-corruption is high on both the national and international agendas, stated the report. The central government pledged greater efforts in eliminating corruption during the 18th National Congress of the Communist Party of China. It has also become one of the major issues at G20 summits since 2009.

The report is a local translation of the ICC Anti-corruption Clause and ICC Rules of Combating Corruption, which details common rules and regulations of business dealings in the global business community, such as how to establish procedures to deal with gifts offered by business partners.

Zhang expects the advice will reach the corporate sector through education and media promotion.

"We hope the report will serve as a reference for local enterprises to keep away from corruption, and to encourage further discussion on the issue," she added.