![]() State-run CCTV reported this month "expert network" services firm Capvision had accepted projects from overseas firms to source information, including "state secrets and intelligence" on sensitive sectors including defence and advanced technology. companies doing business with China demand expert knowledge to be fully compliant, Lu said. "Due diligence demand is huge among foreign companies," said Lu Xiaomeng, director of geo-technology at Eurasia Group.įor example, about 600 Chinese companies are blacklisted by Washington and subject to export control, "but every month there are many, many new Chinese companies emerging, offering similar products", so U.S. consultancy Frost & Sullivan reckoned it would nearly double to $1.9 billion in 2025. The crackdown, which ensnared Shanghai-based market leader Capvision earlier this month, and a sweeping update to anti-espionage legislation that comes into effect from July 1, has made some consultants in the country scramble to reduce risk.īut, given the hopes invested in China's economic growth and liberalisation, foreign firms' demand for expert knowledge about the Chinese market, the regulatory landscape, potential business partners and opportunities will inevitably keep growing.Įstimating the market for expert insights for China at $1 billion last year, U.S. Smaller consultancy and due-diligence firms in China reckon they stand to gain once business returns to normal after the shock administered by Beijing's crackdown on firms supplying information deemed too sensitive to be shared with foreigners. ![]() SHANGHAI/HONG KONG, May 17 (Reuters) - (This May 17 story has been corrected to rectify the name to Friberg, not Friburg, in paragraph 17) ![]()
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