China's top economic planner, the NDRC, denied pressuring domestic tech firms to reject foreign investment, following concerns sparked by its blocking of Meta's proposed buyout of AI startup Manus. Spokesman Li Chao stated support for international collaboration but emphasized adherence to China's rules and national security.
China's National Development and Reform Commission (NDRC) spokesperson Li Chao denied rumors that the government plans to prohibit high-tech companies from accepting US capital. She stated that China supports international cooperation and has never required tech firms to reject foreign investment, but emphasized that foreign investment must comply with Chinese laws and not harm national security.
China's National Development and Reform Commission (NDRC) stated that abnormal climate conditions, including the developing El Niño phenomenon, are unlikely to significantly affect the summer grain harvest. The NDRC is coordinating efforts to ensure smooth procurement, transportation, and storage, supporting farmers in selling their produce at good prices.
China's NDRC forecasts a record peak electricity load of 1.6 billion kilowatts this summer, a 90 million kW increase from last year, due to potential El Niño effects and extreme weather. The agency is implementing measures including power source construction, coal and hydro reserves, long-term contracts, and inter-provincial grid support to ensure stable supply.
China's National Development and Reform Commission (NDRC) has blocked Meta's $2 billion acquisition of AI startup Manus, effectively unwinding the deal despite the company's move to Singapore. The ruling sets a precedent that offshore reincorporation does not exempt firms from Chinese oversight.
China has stepped up its tech war with the United States, blocking Facebook owner Meta’s US$2.5 billion acquisition of artificial intelligence (AI) start-up Manus and raising cybersecurity concerns about Anthropic’s new AI model Claude Mythos Preview. The National Development and Reform Commission (NDRC) announced it was prohibiting the Manus deal in a one-sentence statement on Monday, which didn’t give a specific reason. Meta is now planning to unwind the acquisition, which means untangling...
China's National Development and Reform Commission has ordered Meta to unwind its $2 billion acquisition of Manus, a Singaporean AI startup with Chinese origins. The NDRC stated the decision to prohibit the foreign investment was made in accordance with laws and regulations and has asked the parties to withdraw the transaction. The deal had faced scrutiny from both Beijing and Washington, with U.S. lawmakers prohibiting American investors from backing Chinese AI companies.
A Chinese official has warned that evolving international circumstances present both opportunities and risks for China, citing increasing geopolitical conflicts, rising hegemonic ambitions, and intensifying competition for energy and critical minerals. The article highlighted vulnerabilities in global supply chains, particularly disruptions through the Strait of Hormuz, while noting China's proactive oil stockpiling has helped buffer economic impacts.
