To demonstrate China's concern about economic deficiencies, authorities have released all employees of the U.S. company due diligence company that was detained in Beijing two years ago.
The move appears to be an interest in foreign investors and companies operating in China as they glide on the world's second-largest economy.
A company spokesman told Reuters on Tuesday (March 25) that detained Beijing employees at the Mintz Group were released.
See also: U.S. port fee proposal exacerbates U.S.-China trade fear
Their releases follow the high heels of Beijing's China Development Forum, which attracted dozens of foreign CEOs and is used by Chinese officials to convey the message China is eager to attract more foreign capital.
Chinese authorities detain five local workers in a raid Comprehensive crackdown on consulting companies and due diligence companies Including Bain and the company's office in Shanghai, capvision Partner.
Safety is better than development
Mintz’s staff, who specialize in background checks, fact-gathering and internal investigations, were detained in March 2023 before the same high-profile economic forum, causing chills to China’s foreign sentiment.
Critics say China is right Security under Xi Jinping is undermining its economic goals.
Reuters quoted sources in a May 2023 report, saying Minz was engaged in company due diligence and inspected Possible use of mandatory labor in supply chains related to China's Xinjiang region.
China expressed its welcome to foreign trade, but emphasized that national security precedes development.
“We thank the Chinese authorities, and our former colleagues can now go home with their families,” a Mintz spokesman said in an email.
According to its website, Mintz has 12 offices around the world and has more than 280 investigators.
Foreign investment fell 27%
Prior to this year's China Development Forum, Chinese officials launched a charm offensive, meetings with senior foreign executives to align their appeal to the Chinese market.
According to official data, FDI fell 27% in 2024 in the form of local currencies, the most since the global financial crisis in 2008.
Promotion is also Tits are subject to tariffs As the U.S. escalates, Beijing is eager to consolidate ties with global business leaders to resist disruptions triggered by U.S. President Donald Trump, who is expected to impose more fines on Chinese goods next week.
- Jim Pollard's Extra Input and Editing by Reuters
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