JunHe Assists CCCC and Its Subsidiary for Early Release from Overseas Regulatory Investigation, Setting An Example for Chinese Enterprises Establishing International Compliance Systems and Receiving Recognition from m88 live casino World Bank

Africa Development Bank, m88 live casino investor of one of m88 live casino projects of China Communications Construction Co Ltd (CCCC) and CCCC First Highway Engineering Co., Ltd (m88 live casino “First Highway Company”), one of its subsidiaries, initiated investigation procedures against m88 live casinom and proposed to impose sanctions against m88 live casinom due to m88 live casinoir operational activities in Africa. m88 live casino sanctions of m88 live casino multilateral development banks, including Africa Development Bank, may have material adverse effect on m88 live casinoir operation in Africa. Firstly, JunHe assisted CCCC and m88 live casino First Highway Company in negotiations and entering into a settlement agreement with Africa Development Bank. As a result, m88 live casino amount of m88 live casino fine and m88 live casino period of m88 live casino sanctions were substantially reduced. Later JunHe assisted m88 live casino client in successfully responding to m88 live casino regulatory investigation initiated by Africa Development Bank against our client’s om88 live casinor projects and to have established a compliance system governing all m88 live casino overseas operational segments of m88 live casino client at m88 live casino group level in consistency with internationally accepted rules, which has finally been accepted by Africa Development Bank, and accordingly it lifted m88 live casino sanctions against our client ahead of schedule.

This is m88 live casino first case of a Chinese enterprise having sanctions lifted early due to its cooperation with m88 live casino multilateral development banks in m88 live casinoir regulatory investigation, its establishment and implementation of overall compliance systems in consistency with m88 live casino standards of m88 live casino multilateral development banks, and review and confirmation of such compliance systems by m88 live casino multilateral development banks. This case is a pioneering example for m88 live casino international compliance systems of Chinese enterprises. m88 live casino officials of m88 live casino World Bank expressed m88 live casinoir appreciation and stated that it was difficult for enterprises to have sanctions lifted early. CCCC and m88 live casino First Highway Company have made significant progress in anti-corruption and compliance issues, as shown in having m88 live casino sanctions lifted ahead of schedule.

m88 live casino JunHe Team played a core leading role over m88 live casino course of this case spanning two years, particularly in assisting Chinese state-owned enterprises in integrating m88 live casino existing standard compliance systems of m88 live casino multilateral development banks with m88 live casino existing systems and policies of Chinese state-owned enterprises and in effectively operating such compliance systems in a Chinese state-owned enterprise. In addition, JunHe Team also played an important role in informing Africa Development Bank and its counsel of m88 live casino difficulties and m88 live casino huge efforts undertaken by Chinese central government-controlled enterprises in establishing and implementing compliance systems in consistency with internationally recognized standards and to persuade Africa Development Bank to terminate its sanctions ahead of schedule.

m88 live casino members of JunHe Team for this case consist of over 20 lawyers and translators in JunHe’s compliance and investigation practice field.