China will cooperate in assessing and investigating Meta's acquisition of the Manus artificial intelligence platform to XEM whether it complies with regulations on export controls, technology import-export, and overseas investment.
On January 8th, Chinese Ministry of Commerce spokesperson He Yadong responded to questions about the review of this transaction, emphasizing that the government supports international technology cooperation but businesses must comply with laws and legal procedures when investing, transferring technology and data, and conducting cross-border M&A.
- The Chinese Ministry of Commerce will review and investigate the Meta–Manus transaction.
- Review within the legal framework on export control, technology, and overseas investment.
- Businesses must comply with regulations regarding investment, technology export, data transfer, and mergers and acquisitions (M&A).
What did China say about Meta's acquisition of Manus?
The Chinese government supports businesses engaging in mutually beneficial cross-border activities and international technological cooperation, but requires all parties involved to fully comply with applicable laws and legal procedures.
Ministry of Commerce spokesperson Ha Yadong said that activities such as overseas investment, technology exports, data transfer, and cross-border mergers and acquisitions must comply with Chinese laws and regulations. This places Meta's acquisition of the Manus artificial intelligence platform in a category of transactions that could be subject to multiple layers of compliance scrutiny.
The statement was made in response to a question about the review of the transaction. The emphasis was on the principle of supporting international cooperation, but with the added obligation of compliance, particularly with transactions involving technology and data.
Which regulatory groups will the Department of Commerce review?
The Ministry of Trade will coordinate with relevant agencies to assess the transaction's compliance with laws on export control, import-export technology, and overseas investment.
According to the quoted content, the assessment and investigation process will focus on the consistency of the acquisition with relevant legal requirements. Three main framework groups are outlined: export control, management of technology import-export, and management of overseas investment activities.
At the same time, the statement reiterated the general standard: all businesses involved in overseas investment, technology export, data transfer, and cross-border M&A must comply with the law and follow proper procedures. This implies that transactions will be XEM in terms of both content and process.
