As Weichai believes that trade compliance is of great significance to the Company’s sustainable development, it is committed to strictly abiding by applicable laws and regulations regarding trade compliance for its business across the globe (hereinafter referred to as “laws and regulations regarding trade compliance”), actively promoting trade compliance practices and carrying out business activities in accordance with laws.
Weichai understands the important functions of compliance in the Company’s development, recognizes that compliance which is a key factor to win the trust of business partners can help the Company effectively reduce and avoid trade risks, enhance the Company’s soft power of competitiveness in the international market, and effectively guarantee the stable and sustainable development of the Company. Weichai attaches great importance to the construction of its trade compliance system. Moreover, it has applied and is committed to continuing to coordinate and apply sufficient resources to fully support trade compliance management, so as to ensure that all of Weichai’s business activities across the world are in conformity with applicable laws and regulations regarding trade compliance.
Weichai requires its staff to know and understand the Company’s trade compliance policy, and must strictly abide by the Company’s trade compliance policy, and shall not violate it under any circumstances. Any person who violates the Company’s trade compliance policy or applicable laws and regulations regarding trade compliance will cause serious consequences and will even be held legally accountable. The Company has a “zero tolerance” policy and attitude towards the above-mentioned violations.
Weichai manages and controls the trade compliance risks of all business activities. Specifically, it:
(1) Has deployed professional compliance personnel to continuously investigate and assess the trade compliance risks for the planned and ongoing business, so as to manage and control the trade compliance risks involved in business operation.
(2) Continues to promote the establishment of trade compliance management system, carries out due diligence on trade compliance risks in all business fields and functional departments, and formulates corresponding guides for trade compliance management and control to ensure the compliance of the Company’s business operation.
(3) Optimizes and improves the trade compliance management system, and continuously publicizes and offers trainings to all business departments to ensure that the Company’s trade compliance management system can be followed and implemented.
Weichai conducts trade compliance risk assessment and audit on all business activities to ensure that all business activities comply with the applicable laws and regulations regarding trade compliance. The Company expects that all its partners can understand and coordinate, and can abide by, together with its staff, the applicable laws and regulations regarding trade compliance, and can fulfil their compliance obligations, so as to ensure that the business activities are stable, compliant and developed sustainably.