2021, Volume 23, Issue 4
Strategic Study of CAE >> 2021, Volume 23, Issue 4 doi: 10.15302/J-SSCAE-2021.04.010
Compliance Management of Overseas Operation of Chinese Construction Companies
School of Civil Engineering, Southeast University, Nanjing 211189, China
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Abstract
Compliance management is indispensable for the globalization of Chinese construction companies and the sustainable development of their overseas operations. In this article, we introduce the World Bank Group sanctions system for funded projects, and summarize the control measures adopted by developed countries and international organizations against the multinational business operations of large companies. These measures are a technical reference for Chinese construction companies to master international rules and conduct international business. Subsequently, we analyze the noncompliance cases that occurred in overseas operations of Chinese construction companies in the 2009–2020 fiscal year in terms of basic characteristics and consequences. We also present several prominent issues, such as the gradual strengthening of international supervision, the poor business environment of the project host country, and the weak regulation by the home country on the overseas operation of construction companies. Furthermore, we suggest that China should encourage international cooperation, accelerate the establishment of legal systems such as criminal law and administrative supervision incentive mechanisms, integrate advanced technologies to conduct compliance guidance and supervision for construction companies, cultivate talents proficient in foreign-related compliance management, and improve the overseas operation level and compliance management capabilities of Chinese construction companies.
Keywords
construction company ; overseas operation ; compliance management ; the World Bank Group ; international cooperation
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