Anti-commercial Bribery
Bribery undermines public trust. Bribery presents a threat to both economic and social development, and impedes fairness in business and commercial dealings. Yutong Group adheres to strict compliance operation and upholds ethical business values. The company complies with all applicable anti-commercial bribery laws and regulations in the regions where it operates. Further, Yutong Group maintains a "zero-tolerance" policy towards acts of commercial bribery, corruption, and other forms of misconduct.
The Company emphasizes and reinforces the principles of "transparency and integrity" in every employee's day-to-day work. All employees, customers, organizations acting on behalf of Yutong or cooperative units having business relations with Yutong must clearly know and strictly abide by applicable anti-bribery laws and regulations and compliance management requirements of the Company:
The Company prohibits Yutong employees or entities and individuals engaged in commercial activities on behalf of Yutong from directly or indirectly bribing public officials or staff of the counterparty, organizations or individuals entrusted by the counterparty to handle relevant affairs, and organizations or individuals who can use their power or influence to affect transactions, in an attempt to secure trading opportunities or competitive advantages.
Yutong takes the following key measures to ensure anti-commercial bribery compliance:
In Yutong Anti-Commercial Bribery Statement and Management Regulations on Anti-Commercial Bribery, the Company clarifies the zero-tolerance policy on commercial bribery and corruption, and defines the requirements for employees and cooperative units.
To promote effective compliance management and mitigate the risk of commercial bribery and corruption, the Company has established a dedicated Criminal Compliance Management Department. This department is responsible for designing and implementing an anti-commercial bribery management system that includes four key components: compliance system construction and risk prevention, process compliance supervision, violation investigation and handling, and continuous supervision and improvement.
To create the Company's anti-commercial bribery compliance culture, the company has outlined and published the anti-commercial bribery compliance requirements in the Anti-Commercial Bribery Operation Manual of Transparent Operations. Moreover, the company ensures that employees understand and effectively comply with the Company's anti-commercial bribery compliance requirements through training for all employees, and signing of compliance commitment letters for key posts and anti-commercial bribery commitment letters for businesses in key management fields.
Strengthen the anti-commercial bribery management of dealers, suppliers and other partners, and effectively control the commercial bribery risks involved in Yutong products or services of third-party cooperative units through qualification examination, questionnaire survey, signing of agreements and commitment documents, etc.
The Company engages in anti-commercial bribery mutual commitments with its customers to promote a prohibition attitude towards commercial bribery and reach a consensus on the importance of integrity and anti-bribery.
The Company encourages employees and cooperative units to report violations to help improve the effectiveness of Yutong's anti-commercial bribery management system.
