New solution aims to mitigate the risks of doing business in China
The new solution will help mitigate key risks associated with traditional meetings activity in China such as bribery, fraudulent activities and receipts, and third-party money funnelling.
Major fines and other penalties accrued by multinational organisations conducting meetings and events in China have attracted negative headlines in recent years. It has resulted in some companies becoming reluctant to conduct any meetings activity in the country at all.
“China is one of the fastest growing economies in the world, and for most organisations, conducting business there has become a business necessity,” said Issa Jouaneh, senior vice president and general manager, American Express Meetings & Events.
“Our enhanced meetings solution for China gives multinational companies the confidence to conduct meetings activity in a compliant manner. The development of this enhanced solution was driven by demand from both clients concerned about conducting meetings in China and others unsure if their existing core M&E activity in the country is compliant. This goes well beyond regulated industries – we expect financial services, mining and manufacturing clients, as well as pharmaceutical and health sciences clients, to also see value in our offering.”