China says it’s open for business. Recent raids tell a different story.
China’s recent raids on American firms and the expansion of a counterespionage law are sending a chill through the foreign business community and ratcheting up the risks of operating in the country.
By targeting two U.S. companies involved in due diligence work – such as background checks and market consulting – in separate raids in March and April, while also greatly widening the scope of data that could be deemed by Chinese authorities to be related to national security, Beijing has thrown into question whether businesses and other entities can safely gather information vital to their work.
“Frankly, we’re very concerned about it,” said
