It is reported that, according to inside sources, Chinese officials are reviewing Meta’s $2bn purchase of AI platform Manus for possible technology export control violations, in a move that potentially gives Beijing leverage over the high-profile transaction. The deal announced last week is a rare case of a US group acquiring a cutting-edge AI start-up with Chinese roots at a time when Washington and Beijing are locked in an increasingly fraught competition over a range of advanced technologies. Apparently, officials in China’s commerce ministry had begun assessing whether the relocation of Manus’s staff and technology to Singapore and the subsequent sale to Meta required an export licence under Chinese law. While the review is in its early stages and might not lead to a formal investigation, the need for a licence could provide Beijing with an avenue to influence the transaction, including trying to force the parties to abandon the deal in an extreme case, the inside sources said. China used a similar mechanism to intervene in Washington’s attempted forced sale of TikTok during US President Donald Trump’s first term. Further official details have yet to be revealed by China’s commerce ministry.
Click here for the official article/release
Disclaimer
The Legal Wire takes all necessary precautions to ensure that the materials, information, and documents on its website, including but not limited to articles, newsletters, reports, and blogs (“Materials”), are accurate and complete. Nevertheless, these Materials are intended solely for general informational purposes and do not constitute legal advice. They may not necessarily reflect the current laws or regulations. The Materials should not be interpreted as legal advice on any specific matter. Furthermore, the content and interpretation of the Materials and the laws discussed within are subject to change.
