China’s new counter-espionage law broadens the definition of espionage, increasing the risks for foreign consultants, which some experts said may increase the risks for investing in the country.
On March 27, Chinese Premier Li Qiang told foreign attendees of the China Development Forum (CDF) 2023 in Beijing that China would unswervingly open up to the outside world, no matter how the international situation may change.”
Wang Wentao, China’s commerce minister, reportedly told world business leaders at the CDF that foreign businesses “are not guests, but family.”
With that said by the top officials in charge of China’s economy, Chinese police raided the Beijing office of the American due diligence company Mintz Group and detained five of its Chinese employees in March. Financial Times reported that there was no sign of activity in Mintz’s office in Beijing shortly after the raid, whose glass doors were locked with a heavy chain….