Beijing: China has emphasized the necessity for companies engaged in overseas investments to adhere to domestic laws, as it probes into Meta's acquisition of the artificial intelligence platform Manus.

According to Anadolu Agency - English, the statement from China's Commerce Ministry follows the announcement by US tech giant Meta regarding its recent acquisition of Manus, an AI startup initially founded in China and later relocated to Singapore. Manus is known for unveiling a general AI agent capable of complex tasks such as data analysis, coding, and market research, projected to be operational by early 2025.

Commerce Ministry spokesman He Yadong highlighted the legal obligations for enterprises involved in overseas investments, technology exports, cross-border data transfers, and mergers and acquisitions. He stated that these entities must comply with Chinese laws, fulfill statutory procedures, and that the ministry will collaborate with relevant departments to assess the alignment of Meta's acquisition with laws related to export controls, technology imports and exports, and overseas investments.

The ministry's declaration followed a report by the Financial Times, which indicated that Beijing is scrutinizing the sale of Manus to Meta. The focus is on whether the relocation of Manus' staff and technology to Singapore, and its subsequent acquisition by Meta, necessitated an export license under Chinese law. The report added that this review is still in its preliminary stages and might not escalate into a formal investigation.