"Authorities in Beijing have barred two executives from a Singapore-based AI firm from leaving China amid a review of the company's $2 billion acquisition by U.S. social media giant Meta."
"Xiao Hong and Ji Yichao - the CEO and chief scientist, respectively, of Manus - were summoned to Beijing this month and questioned over a possible violation of foreign direct investment reporting rules related to the acquisition."
"Both China and the United States have sought to prevent homegrown AI talent and companies from migrating to each other's markets amid fierce competition to dominate the next generation of AI technology."
"This is the first time Beijing has used exit bans on executives as part of an investigation to stymie a multibillion-dollar deal with a U.S. tech firm."
Beijing has restricted the travel of Manus executives Xiao Hong and Ji Yichao during an investigation into Meta's $2 billion acquisition of the AI firm. The executives were questioned regarding potential violations of foreign direct investment reporting rules. Manus, which specializes in advanced AI agents, was founded in China and relocated to Singapore. The Chinese Ministry of Commerce is investigating the deal, marking a significant move in the competition between the U.S. and China over AI technology.
Read at The Washington Post
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