Integrity in private sector amid closer regional relations

Tuesday, November 10, 2009
Issue 865, Page 5
Word count: 528
Published in: Macau Daily Times

By Poyi (Natalie) Leung

Anti-corruption Commissioner Cheong U said that it was the “perfect time” to explore and exchange ideas about integrity culture in private sectors, when mainland China, Hong Kong and Macau are having a closer economic and trade relation.

A two-day symposium to discuss and look into the current condition and prospect of corruption prevention in private sectors in the mainland, Hong Kong and Macau commenced at MGM Grand yesterday.

Vice Minister of Supervision of the People’s Republic of China, Commissioner Zhang Hua Wei; Commissioner of the Hong Kong Independent Commission Against Corruption (ICAC) Dr. Timothy Tong Hin Ming; and Commissioner of the Macau Commission Against Corruption (CCAC) Cheong U presided over the closed-door seminar.

Commissioner Cheong said in his opening speech that the global financial crisis had aroused heated discussions on the management and integrity issues of private sectors.

In order to attain sustainable development in the economy, on-going improvement in people’s living quality and also stability and harmony in society, the CCAC Commissioner said that not only did governing entities need to be “clean, impartial and transparent”, other individuals and participants in society also needed to be concerned about integrity and morality.

“Therefore, building and promoting an integrity culture in enterprises is an important prerequisite for people to have quality lives,” he added.

Since the handover of Hong Kong and Macau to the motherland, the economic and trade relations between the three places had become more active ever before.

With the implementation of “The Outline of the Plan for the Reform and Development of the Pearl River Delta”, Commissioner Cheong said it could be foreseen that the private sectors in the mainland and the two SARs would play a crucial role during the process.

“To thoroughly explore and exchange ideas between the three places about the supervision mechanisms, anti-corruption measures and integrity construction at this moment do not only benefit enterprises’ operations and competitiveness, but also contributes to the sustainable development and reforms in the regional economy,” he added.

Meanwhile, ICAC Commissioner Dr. Timothy Tong Hin Ming said that in a globalised world “corruption has become cross-boundary crime and thus to strengthen regional and international cooperation is necessary to make anti-graft work be effective”.

Due to the economic boom in Macau, Commissioner Dr. Tong said cross-border corruption could occur in the construction and service industries.

Yet following the CCAC’s power expansion to the private sector, he said he believed that the two graft busters in Hong Kong and Macau will see more cooperation in a near future.

The ICAC Commissioner also pointed out that the two SARs should pay more attention to the financial and listed companies areas, and apart from the exchange of information, bilateral cooperation to obtain evidence should be further intensified.

On the other hand, Vice Minister of Supervision Commissioner Zhang Hua Wei told the audience at times when private enterprises and institutes were being facilitated, monitoring and management have to be reinforced simultaneously so that the sector could develop in a “regulated manner”.

Since the mainland has been maintaining more intimate ties with Hong Kong and Macau, Commissioner Zhang said intensifying cooperation against corruption was a “consensus and common issue” amongst the three places.

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