Suppliers
We have implemented a Supply Chain Code of Conduct and Sustainable Procurement Policy to ensure that our supply chain aligns with our sustainability principles. Through these measures, we promote long-term business relationships based on trust and cooperation while mitigating social and environmental risks in our supply chain.
We prioritise
sustainability in
our procurement
decisions
Each year, we assess the performance of our suppliers in areas such as labour practices, prohibition of child or forced labour, employee benefits, corruption and corporate governance, environmental performance, and complaint mechanisms, etc. This evaluation helps us understand the management and business model of our suppliers. Where necessary, we also conduct on-site investigations or engage third-party audits to ensure accurate assessments.
Integrity and compliance are paramount in our supplier selection process. We strictly comply with the Competition Ordinance, the Prevention of Bribery Ordinance and other applicable laws and regulations, and pursue the principle of fair competition. We have established policies and mechanisms such as the Centralised Procurement, Tender and Price Comparison Rules and the Administrative Measures for Supplier Management to safeguard against direct and indirect corrupt behaviour and bribery during the vendor selection process. Our due diligence process ensures that suppliers comply with relevant laws and regulations and meet our expectations. If a supplier fails to meet our standards, appropriate actions, including delisting, may be taken.
In response to rapid developments in financial technology, we have engaged fintech solution suppliers to help explore the potential of big data, cloud platforms, AI, Open API and other new technologies. To manage the potential information security and technology risks associated with fintech suppliers, we have devised the Implementation Rules for BOCHK’s Service Providers on Information Security and Technology Risk Assessment. This framework outlines the categories, frequencies and methodologies for supplier inspections, ensuring that our suppliers have robust information security and customer data protection mechanisms in place.
