The moves against consultancies and due diligence firms will make it harder for multinationals to operate in China, even as local governments are desperate to entice them in.
Police officers and security guards in Beijing, April 5, 2023. Credit: Andy Wong via AP Photos
Beijing’s sudden crackdown on consultancies and due diligence firms has not only sent a chill through those firms’ offices: It’s added to the confusion for multinational companies about their future in China.
The Chinese government effectively made its campaign against the alleged sharing of sensitive information official this week, when state broadcaster CCTV aired a prime time segment showing police raiding the offices of Capvision, a consultancy headquartered in New York and Shanghai
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If Xi Jinping is becoming more preoccupied with internal politics, it could lead to a period of relative calm in China’s relations with the United States.
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