China’s commerce ministry said on Thursday it would assess whether Meta’s proposed acquisition of artificial intelligence platform Manus complies with Chinese laws governing overseas investment, technology exports and cross-border data transfers.
In response to a question at a regular press briefing about reports that regulators were reviewing Meta’s planned purchase of Manus, the ministry's spokesperson He Yadong said China supports companies in conducting mutually beneficial cross-border business and international technology cooperation, provided they operate in accordance with the law.
“Enterprises engaging in overseas investment, technology exports, cross-border mergers and acquisitions, and data transfers abroad must comply with Chinese laws and regulations and fulfil the required legal procedures,” He said.
He added that the ministry would work with relevant authorities to evaluate the transaction’s consistency with rules on export controls, technology import and export, and overseas investment, without giving a timetable or further details on the review.
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