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FOX NewsDec 24, 2022
China Launches Investigation of Capvision Offices
Image copyright: Imaginechina/AP Images [via The New York Times]
The Facts
Chinese authorities have launched an investigation into the Shanghai and New York-headquartered consulting firm Capvision, Chinese media reported Monday. This comes as Beijing tightens its scrutiny of foreign consulting and advisory firms.
Capvision offices in Shanghai, Beijing, Suzhou, and Shenzhen were raided for failing to seriously perform their "responsibilities and obligations" to prevent espionage, state media claimed.
The Spin
Pro-China narrative
The Capvision investigation and the recent revision of China's anti-espionage law are further evidence that China is serious about combating increasing espionage activity and protecting national security. Moreover, the revised legislation protects the interests of foreign companies and individuals, which means that contrary to tiresome and mushrooming criticism, the anti-espionage law will continue to improve rather than worsen the PRC's business environment.
Anti-China narrative
The Capvision raids are yet more bad news for all companies who hoped that China's economy would finally reopen to the world after COVID. Moreover, with its ambiguous definition of China's "national security," the new espionage law is likely to further weigh on the business climate, which is a cause of great concern for investors and their local business partners. China risks scaring away foreign investors, thereby jeopardizing its economic performance.
Metaculus Prediction
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