Advisory firms on alert after China raids and arrests, as experts say data crackdown will hinder int’l investment
An advisory firm in China has asked their staff to review each source they obtain data from, after Chinese authorities raided three firms in the sector, an executive from the company has told HKFP.…

Chinese authorities raided three advisory firms over the past few months which offered investigative and strategic analysis for the Chinese market to foreign investors. Their staff -all Chinese nationals- were detained, one of them was sentenced to six years in prison for “stealing national secrets”. Alfred Wu, a researcher based in Singapore, said that it is unclear why the authorities recently took intensive moves against foreign companies, when Beijing has said it was seeking to boost the economy after the lifting of harsh anti-Covid measures.

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