Business Sector Integrity Charter – Fostering a Clean Business Environment in Collaboration with the Commercial and Industrial Sectors
The year 2023 marks the 10th anniversary of the country’s “Belt and Road” initiative. In seizing the immense opportunities brought about by the country’s high-quality development, Hong Kong enterprises must strengthen their integrity management and corporate governance. In tandem with the “High-Level Principles on Belt and Road Integrity Building” announced earlier by the country which called for the concerted efforts of government and enterprises in preventing and combatting corruption, the ICAC’s Corruption Prevention Department (CPD) has launched the “Business Sector Integrity Charter (BSIC)” by collaborating with major chambers of commerce in Hong Kong in phases to encourage their member companies to implement an “integrity management system” and co-create a “Hong Kong Brand” for business integrity.
In November this year, BSIC was launched at a ceremony jointly hosted by the ICAC and the Chinese Manufacturers’ Association of Hong Kong (CMA) with around 3 000 member companies — the first participating chamber of commerce of BSIC and a long-term partner of the ICAC. More than 10 CMA General Council members took the lead in joining BSIC in the ceremony, laying a solid foundation for the charter. The launching ceremony was officiated by the Deputy Financial Secretary Mr Michael Wong Wai-lun, ICAC Commissioner Mr Danny Woo Ying-ming, President of CMA Dr Allen Shi Lop-tak, CMA Legislative Council Representative Hon Jimmy Ng Wing-ka and CMA Executive Vice President Dr Lo Kam-wing. The unfailing support of various stakeholders is important to the ICAC in propelling a culture of integrity across the business community.
Each participating company of BSIC is required to appoint an “Integrity Officer” to assist in the implementation and monitoring of the company’s integrity policy and good corporate governance. The company should also undertake to implement an integrity policy that includes 10 core elements, and attend integrity training. As secretariat of BSIC, CPD will provide necessary support to participating companies, including assisting them in formulating integrity policies, providing corruption prevention advice and training to enhance their corporate integrity management and anti-corruption capabilities, as well as an effective and comprehensive integrity compliance management system.
As many Hong Kong companies are expanding their business in the Greater Bay Area, the “Belt and Road” regions, and other overseas localities, it is important for companies to enhance their resistance to corruption. Good governance can heighten client confidence, attract investors, and foster companies’ long-term development. Local companies are encouraged to uphold the spirit of BSIC, promote Hong Kong’s clean business environment, and tell the good stories of Hong Kong. For details, please contact the BSIC Secretariat at bsic@cpd.icac.org.hk or visit the relevant website.