Despite blocking Meta’s Manus deal, China says ‘door open’ to foreign tech investment
China’s top economic planner denied pressuring domestic tech companies to turn down foreign investment amid rising concerns sparked by its recent blocking of Facebook owner Meta Platforms’ proposed buyout of Chinese-founded AI start-up Manus. “We have never required Chinese tech firms not to accept foreign investment,” Li Chao, spokesman for the National Development and Reform Commission (NDRC), said at a press conference on Friday. “We support Chinese firms to integrate into
China's top economic planning agency has stated that it does not compel domestic technology firms to reject foreign investment, following its recent decision to block Meta Platforms' acquisition of AI startup Manus. The National Development and Reform Commission (NDRC) spokesperson clarified that the government supports Chinese companies engaging with the global market. This statement aims to reassure foreign investors amid growing concerns about China's regulatory environment and its stance on foreign tech acquisitions. The NDRC emphasized its commitment to an open economy and attracting foreign capital.
This statement is significant as it attempts to mitigate concerns among international investors about China's regulatory landscape and its openness to foreign technological partnerships.
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