| As the process of global economic integration speed up, along with the increasingly fierce competition in the market, the practice of transnational commercial bribery appears to be pervasive across many parts of the world, covering various industries. Bribes may be effective in reducing costly regulations, but bribes can also be used to raise costs and restrict market entry for one's competitors. In 1977, < Foreign Corruption Practice Act > was enacted by United States in order to prevent U.S. businesses and individuals from using illicit payments to foreign officials to influence any official act, induce unlawful action, or obtain or retain business. Then in 1996, the Organization for Economic Co-operation and Development passed the famous OECD Convention on Combating Bribery of Foreign Public Officials which entered into force in 1999. Recently many regional and international organizations, such as United Nations and the European Council, have adopted anti-bribery legal instruments to build integrity and fight corruption.This essay is divided into three sections. Section 1 defines the notion of transnational commercial bribery and provides brief background information on the major existing anti-corruption legal regimes. Section 2 discusses the impact of the enforcement of those legislations and conventions, especially focused on sanctions against emerging markets. The last section offers proposed reforms for China that might enable us to achieve the goal to manifest purpose of curbing bribery without collaterally curbing investment.
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