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No access Chinese mainland CCTV Newscontent www.cctvplus.com +86-10-83949886 +86-10-63978447 contact@cctvplus.com 2026-04-30T19:53:55Z 2026-04-30T19:53:55Z 2026-04-30 2014-11-06T09:22:45Z China Central Television China Economy/Other April 29, 2026/File China-Manus Acquisition/Analysis China's ban on Manus acquisition signals compliance red line in key sectors: experts China's move to block the foreign acquisition of Manus, a promising AI startup, underscores the country's position that cross-border deals in critical sectors must comply with national security reviews, regardless of corporate restructuring, said analysts. In late December last year, American tech giant Meta announced plans to acquire Manus for 2 billion U.S. dollars. Chinese regulators have since launched an investigation into the deal for national security reasons. China's top economic planner, the National Development and Reform Commission, announced on Monday that the office of the foreign investment security review working mechanism had issued a decision to prohibit foreign investment in Manus and has ordered the parties involved to revoke the acquisition deal. Legal experts said the case sends a clear signal that regulators apply a "substance-over-form" principle to scrutinize transactions that attempt to bypass security reviews through corporate reorganizations. "According to Article 4 of the foreign investment security review regulations, important information technology, internet products and services, and key technologies are all critical sectors. If foreign investment seeks to obtain actual control in such sectors, it must proactively file for a security review. It appears that this transaction did not make such a filing, thus violating the regulations," said Shen Ziying, senior partner of Beijing Jincheng Tongda and Neal Law Firm. In the Manus case, the company moved its headquarters to Singapore while its core business remained in China. Subsequently, key personnel, technology and other core assets were gradually transferred overseas, while the domestic entity was stripped of its core operations. Lawyers said any attempt to circumvent regulatory oversight through structural design is non-compliant, warning that compliance is the lifeline for businesses. "This decision draws a red line. National security reviews follow the principle of 'substance over form', looking through the legal form to the economic reality. That is the red line," Shen said. China's foreign investment security review system aims to balance opening-up with national security, a common practice among many countries. Experts stressed that lawful regulation is a necessary measure for orderly opening-up and does not contradict China's commitment to encouraging foreign investment. "China's opening-up policy is a national strategy and remains unwavering. At the same time, the international economic and trade landscape and the geopolitical environment are indeed very complex. Under such circumstances, we need to take a holistic approach that both foreign investment and outbound investment must be conducted in an orderly manner. This ensures that cross-border operations can develop in a more sustainable way while keeping security bottom lines firmly in place," said Cui Fan, a professor in economics at the University of International Business and Economics. Chinese/Nats/Part Mute FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland) 1. Aerial shots of traffic, buildings Beijing, China - April 28, 2026 (CGTN - No access Chinese mainland) 2. Screenshot of website of National Development and Reform Commission showing decision on Manus acquisition case FILE: Inner Mongolia Autonomous Region, north China - Date Unknown (CCTV - No access Chinese mainland) 3. Aerial shot of industrial park 4. Various of servers in operation, wires FILE: China - Exact Location and Date Unknown (CCTV - No access Chinese mainland) 5. Various of servers, computing equipment running Beijing, China - April 29, 2026 (CCTV - No access Chinese mainland) 6. SOUNDBITE (Chinese) Shen Ziying, senior partner, Beijing Jincheng Tongda and Neal Law Firm: "According to Article 4 of the foreign investment security review regulations, important information technology, internet products and services, and key technologies are all critical sectors. If foreign investment seeks to obtain actual control in such sectors, it must proactively file for a security review. It appears that this transaction did not make such a filing, thus violating the regulations." FILE: China - Exact Location and Date Unknown (CCTV - No access Chinese mainland) 7. Various of engineers working in machine room, computing equipment in operation 8. Employees working in office Beijing, China - April 29, 2026 (CCTV - No access Chinese mainland) 9. SOUNDBITE (Chinese) Shen Ziying, senior partner, Beijing Jincheng Tongda and Neal Law Firm (ending with shot 10): "This decision draws a red line. National security reviews follow the principle of 'substance over form', looking through the legal form to the economic reality. That is the red line." FILE: China - Exact Location and Date Unknown (CCTV - No access Chinese mainland) 10. Various of equipment in operation in factory 11. Aerial shots of cityscape Beijing, China - April 29, 2026 (CCTV - No access Chinese mainland) 12. SOUNDBITE (Chinese) Cui Fan, professor, School of International Trade and Economics, University of International Business and Economics (ending with shots 13-15): "China's opening-up policy is a national strategy and remains unwavering. At the same time, the international economic and trade landscape and the geopolitical environment are indeed very complex. Under such circumstances, we need to take a holistic approach that both foreign investment and outbound investment must be conducted in an orderly manner. This ensures that cross-border operations can develop in a more sustainable way while keeping security bottom lines firmly in place." FILE: Hainan Province, south China - Date Unknown (CCTV - No access Chinese mainland) 13. Aerial shots of coastline, buildings, boats sailing, FILE: China - Exact Location and Date Unknown (CCTV - No access Chinese mainland) 14. Aerial shots of bridges, cargo vessel sailing 15. Aerial shots of cityscape