Compliance Management

The Group upholds the management philosophy of "Integrity and law". We play a leading role in the culture of integrity, play a role in standardizing the integrity system, and play a role in auditing and supervision, and organically combine the integrity construction with the operation and management of the enterprise to form a good atmosphere of integrity and create a good corporate environment for the development of Cifi.


1. Institutional establishment


The Group restricts and supervises power at institutional and organisational levels. By combining system with culture, we have rendered our systems transparent, with a complete anti-corruption system in place which comprises documents such as the “Audit and Supervision System of CIFI Group”, the “Accountability Mechanism of CIFI Group”, the “Administrative Measures for Supervision and Case Investigation of Group” and the “Administrative Measures for Declaration of Conflicts of Interests of the Group’s Staff”. Meanwhile, by formulating the institutional procedure of each business, we have achieved well-regulated management, prevented power vacuums and ensured legal and compliance operation.


The Group upholds the philosophy that anti-corruption shall be a top priority. With that in mind, the Group has set up the audit and supervision department at its headquarters, as a special department responsible for anti-corruption of the entire Group. Led by the Board of the Group and headed by the Group president, this department works independently. Its chairman and president regularly listens to anti-corruption work reports, approves every audit and supervision report, and urges rectification of units and personnel under audit and supervision. As such, the anti-corruption results are fully put into practice. The audit and supervision team has ensured the fairness and integrity of supervision work, and protected the ity of such work with superior professional capabilities.


2. Cultivating sunshine culture and build an “Incorrupt CIFI”


Chairman Lin Zhong requested that CIFI promote two cultures in the construction of integrity: one is the sunshine culture, and the other is the culture under supervision. The Group strictly observes relevant national laws and regulations such as “Criminal Law of the People’s Republic of China” and “Unfair Competition Law of the People’s Republic of China”, and regards anti- corruption and integrity as an important means to boost the governance efficiency of the company. The Group keeps amplifying its combat against fraud, and formulated the “Staff Ethics Manual of the Group” applicable to the entire Group (including all of subsidiaries). The manual, which details the bottom lines of staff conduct, forbids fraudulent practice such as embezzlement and bribery, misappropriation, related party transaction and leakage of secrets. For any breaches, the Group maintains a zero-tolerance stance with high pressure.


The Group's Audit and Supervision Department conducts multi-level and full coverage of clean government through the development of online, offline, text, and animation training courses. Every year on the New Year's Day, a anti-corruption campaign is held to enhance employees' awareness of integrity; Create a “Incorrupt CIFI” WeChat public account, continue to carry out clean propaganda, and promote a sunny, transparent and sunshine culture.


In 2021, the Group conducted a total of 71 training sessions on integrity compliance, including professional ethics, accountability system, non-compliance cases and internal control system, etc. The training covered 100% of the management and all staff, amounted to 83,070 staff, and training hour per employee in respect of anti-corruption is approximately 1 hour.


3. Dealing with fraudulent behaviours


In recent years, while strengthening the prevention of fraud, the Audit and Supervision Department has seriously investigated and punished the discovered frauds. All those who violated CIFI’s six major principles were dismissed. Corrupt personnel suspected of committing crimes were transferred to the judiciary for processing, and the group’s intranet and WeChat public channel announcement.


For incidents such as frauds that are identified and reported, the director of the supervisory function will first arrange preliminary investigation, and subsequently ascertain the facts and pursue responsibilities if suspicious irregularities and fraud arise after investigation. The Management System for Accountability of CIFI Group and the Code of Business Conduct Manual of CIFI Group clearly stipulate that favoritism leads to disciplinary actions including demotion, salary reduction, dismissal and other internal sanctions, and incidents involving criminal offences must be transferred to the judiciary.


The group officially joined the Corporate Anti-Fraud Alliance in 2015 and is one of the founding member units of the alliance. It became a governing unit in 2018 and a standing governing unit in 2019. By joining the earliest domestically established anti-fraud organization that is the most complete and comprehensive in the corporate governance of corruption crimes, the Group continues to accumulate and share anti-fraud work experience and promote the construction of a more mature integrity risk monitoring system.


At the end of 2019, the Group was awarded the "Advanced Unit" in the national anti-fraud work by virtue of its outstanding performance in the fields of internal audit and anti-fraud in enterprises.In July 2020, CIFI promoted the establishment of the "Alliance of Audit and Supervision on Fujian-developers in Shanghai" as a principal founding member. The Group acts as the first rotating member of the Alliance, which currently comprises 22 real estate company members. The Group has taken the lead in holding various sharing sessions and communicating with members on the construction of systems, methods and techniques for anti-fraud case research, as well as external resources and legal accreditation, in order to promote the construction of the industry's anti-fraud system. In addition, the Regulations of the Alliance of Audit and Supervision on Fujian developers in Shanghai was jointly signed by the leaders of the member companies to promote their level of internal control through information sharing and complementary advantages.



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