The ICAC today (November 7) has launched the Business Sector Integrity Charter (the Charter). Through collaboration with major chambers of commerce, the Commission calls on the business sector to adopt the Integrity Management System (IMS) with a view to enhancing company ethics and corporate governance, fostering the sector’s long-term and stable development, and co-building a clean business environment.

The Charter was launched today in a ceremony co-hosted by the ICAC and the Chinese Manufacturers’ Association of Hong Kong (CMA). In his welcome remarks, ICAC Commissioner Mr Woo Ying-ming noted that the High-Level Principles on Belt and Road Integrity Building (the Principles), which was earlier introduced by the country, encouraged public-private partnership between government and enterprises in preventing and combatting corruption as well as strengthening a culture of integrity. The Principles also supported companies to refer to international best practices and establish effective and comprehensive integrity and compliance management systems. The Charter introduced by the ICAC was consistent with the implementation of the Principles.

“The Charter embodies the spirit of the Principles and helps Hong Kong companies expand their business along the Belt and Road region. We hope that when doing business with overseas enterprises, local companies will uphold the spirit of the Charter, promote the city’s clean business environment and play a part in sharing the good story of Hong Kong,” said Mr Woo.

Mr Woo noted that participation in the Charter could yield three major benefits for a company, including bolstering clients’ trust, fortifying its capacity to combat corruption and malpractices, as well as positioning the company as an appealing investment opportunity for global investors and facilitating business expansion.

Deputy Financial Secretary Mr Michael Wong Wai-lun, the officiating guest of today’s ceremony, said, “In addition to the concerted effort of the ICAC and CMA, the active participation of and support from the business sector are very important. I am confident that local enterprises, with their high-quality products and services, will help shape Hong Kong into an even more outstanding international anti-corruption centre and take the brand of Hong Kong to new heights by adopting integrity management system.”

At the launching ceremony, President of CMA Dr Allen Shi Lop-tak said he was glad that the CMA was the first partner of the Charter, adding that among the 3,000 member companies of CMA, many had business dealings with countries and regions along the Belt and Road. CMA and the ICAC would work together to promote the Charter and create a sustainable business environment. “Hong Kong companies should continue to play their role as a “cogwheel” and enhance their resilience in order to tie in with and promote the “Eight Actions” advocated by President Xi Jinping. They should adhere to ethical business practice and become a driving force to promote this probity culture.”

The Charter encourages companies to adopt the IMS. Companies joining the Charter are required to appoint an “Ethics Officer” who will assist in implementing and monitoring the company’s integrity policies and corporate governance, and commit to implementing integrity policies and participating in integrity training. The ICAC will provide comprehensive support to participating companies, including assisting them in formulating integrity policies, providing anti-corruption advice and integrity training to improve their integrity management and anti-corruption capabilities.

Other officiating guests of today’s launching ceremony included Legislative Council member of Functional constituency - Industrial (second) Mr Jimmy Ng Wing-ka and Chairman of the Hong Kong Business Ethics Development Advisory Committee cum CMA Executive Vice President Dr Lo Kam-wing.

For more details of the Business Sector Integrity Charter, please visit the Corruption Prevention Advisory Service webpage (https://cpas.icac.hk/EN/Home).